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Sri Lanka - Exhange rates,Current account Indicators

3.21.6 Exchange rates Real effective Nominal effective Monthly average - Index, 2010 = 100 SLRS/$ 110_ _100 100_ -110 90- _120 80- ' _130 70 140 Jan Jun Jan Jun Jan Jun Jan 2010 2011 2012 2013 Source: Central Bank of Sri Lanka. http://www.cbsl.lk (accessed 8 March 2013). 3.21.7 Current account indicators Exports Imports Current account - $ billion % of GDP 30- - 15 20_ 10 10_ 5 0. -10_ -5 -20_ --10 2007 2008 2009 2010 2011 2012 Sources: Central Bank of Sri Lanka. Recent Economic Developments Highlights of 2012 and Prospects for 2013. http://www.cbsl.gov.lk; ADB estimates. 3.21.6 Exchange rates Real effective Nominal effective Monthly average - Index, 2010 = 100 SLRS/$ 110_ _100 100_ -110 90- _120 80- ' _130 70 140 Jan Jun Jan Jun Jan Jun Jan 2010 2011 2012 2013 Source: Central Bank of Sri Lanka. http://www.cbsl.lk (accessed 8 March 2013). 3.21.7 Current account indicators Exports Imports Current account - $ billion % of GDP 30- - 15 20_ 10 10_ 5 0. -10_ -5 -20_ --10 2007 2008 2009 2010 2011 2012 Sources: Central Bank of Sri Lanka. Recent Economic Developments Highlights of 2012 and Prospects for 2013. http://www.cbsl.gov.lk; ADB estimates.

Sri Lanka - Exhange rates,Current account Indicators

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Exports and imports both declined from the previous year after the second quarter, with exports contracting by 7.4% for the year and imports by 5.8%. Weak global demand and lower prices explained most... of the drop in exports. Earnings from garments, the island’s largest export, fell by 2.3%, mainly owing to slack economic conditions in the US and EU and the loss in 2010 of the Generalized System of Preferences Plus facility previously offered by the EU. The loss of that concession continues to cause garment factories to close. Agricultural exports, including tea, contracted by 7.8% due to the drought and weaker prices. The performance of imports reflected currency depreciation, some higher tariffs, and central bank measures to restrict credit growth. Except fuel, machinery, and building materials, imports of all other import subcategories fell from a year earlier. Imports of consumer goods contracted by 18% and intermediate goods by 6%, while imports of investment goods rose by 5%. Fuel imports also increased by 5% as thermal power generation stood in for hydropower output constrained by drought. Despite the fall in export earnings, the trade deficit narrowed by 4% to $9.3 billion. The post-conflict tourism boom continued in 2012, with the number of tourists visiting Sri Lanka surpassing 1 million in 2012 and earnings from tourism expanding by 25.1% to reach $1 billion. Workers’ remittances also expanded rapidly by 16.3% to $6 billion. Increased labor migration under the professional category and the expansion of formal channels for remitting money were the main factors boosting remittance inflows. These earnings held the current account deficit to an estimated $3.5 billion, about 5.8% of GDP, a marked improvement from 7.8% a year earlier (Figure 3.21.7). Source: Central Bank of Sri Lanka. http://www.cbsl.lk (accessed 20 March 2013).

Sri Lanka - Exhange rates,Current account Indicators

Sri Lanka - Exhange rates,Current account Indicators

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