Radi

Sri Lanka’s trade deficit contracted in September 2022 as import expenditure declined, year-on-year, for the seventh consecutive month, while earnings from exports remained robust, the Central Bank reported in its External Sector Performance review revealed.

The Joint Apparel Association Forum (JAAF) yesterday urged the government to expedite negotiations on free trade agreements (FTAs) to enhance the industry’s resilience and global competitiveness amid rising fears of a global economic recession.

Lord Davies outlining details of his visit to Sri Lanka noted that he had some insightful conversations and saw first-hand the innovative and hi-tech operations of some of the UK companies in the market.

United States has imposed sanctions on an individual who was identified as the Sri Lanka based-business partner of a sanctioned al-Qa’ida financial facilitator and external operations plotter.

September 2022 saw US $ 1.28 billion in imports, down from $ 1.48 billion in the previous month and 16% year on year. However, the June 2022 figure at $ 1.22 billion remains the lowest so far this year suggesting there is room for further decline given the foreign exchange crisis.