Trade Balance in Sri Lanka

Sri Lanka Trade Balance | Economic News & Forecasts

Sri Lanka - Trade Balance

The country is undergoing its worst financial crisis since it gained independence: Rising commodity prices, a weak tourism sector and a fiscal deficit have caused the rupee’s value to sink since the start of the year. The Central Bank has been unable to defend the currency due to low international reserves, forcing the government to default on some debt payments in May and to suspend imports of basic goods. Meanwhile, soaring inflation and power cuts are hampering economic activity, with the services PMI plummeting 7.5 points in April and continuing to fall in May; schools and government offices were forced to close in late June, boding poorly for activity ahead. A new government was installed in May, with IMF bailout talks its top priority. To this end, it announced a wide range of tax increases in May, which could aggravate social unrest and thus force the president’s resignation.

Sri Lanka - Trade Balance Data

2015   2016   2017   2018   2019  
Trade Balance (USD billion)-8.4  -8.9  -9.6  -10.3  -8.0  

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Note: Trade balance in USD bn.

Sri Lanka Facts

Value Change Date
Exchange Rate181.20.02 %Jan 01

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