Economy News from Sri Lanka: Central Banks says In September 2019 (year-on-year), the trade deficit increased, with the fall in export earnings exceeding the decrease in import spending.
Nonetheless, in the first nine months of 2019, the trade deficit remained significantly low over the same period last year, due to higher cumulative export earnings and a sharp decline in cumulative import spending. While, in September 2019, the fall in tourist arrivals has been further contained. Workers ‘ remittances rose in September 2019 (year-on-year), though cumulatively decreasing. In the financial account, net outflows were reported in September 2019 by foreign investment in the CSE and the government securities market.
The Sri Lankan rupee remained appreciated against most major currencies during the first nine months of the year, following some depreciation pressure in the month of September.
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