External trade – 3rd Quarter 2021

Highlights


Total Exports

Total exports, for the third quarter of 2021 increased by 14.0%, compared to corresponding quarter of 2020. This is mainly explained by increases in exports of “Ship's stores & bunkers" (+62.8%), “Miscellaneous manufactured articles" (+13.4%) and “Manufactured goods classified chiefly by material" (+10.8%), partly offset by a decrease in the exports of “Food and live animals" (-6.0%).

Total exports, for the third quarter of 2021 increased by 14.5%, compared to the previous quarter.

 

Total Imports

Total imports, for the third quarter of 2021 increased by 36.3%, compared to corresponding quarter of 2020. This is mainly due to increases in imports of “Mineral fuels, lubricants and related materials" (+94.0%), “Manufactured goods classified chiefly by material" (+57.6%), “Chemicals and related products" (+36.6%), “Miscellaneous manufactured articles" (+25.5%), “Machinery and transport equipment" (+21.5%) and “Food and live animals" (+12.1%) 

Total imports, for the third quarter of 2021 increased by 13.6%, compared to the previous quarter.

 

Balance of trade

The trade deficit for the third quarter of 2021 worked out to Rs 32,567 million, 13.0% higher than the deficit of Rs 28,831 million of the previous quarter and 57.3% higher than the deficit of Rs 20,701 million of the corresponding quarter of 2020.

 

Forecast for year 2021

Based on trends and information from various sources, the forecast of total exports for 2021 will be around Rs 78,000 million, 11.1% higher than the total exports of around Rs 70,200 million in 2020. Total imports for 2021, including one-off items such as machinery for metro terminals, cranes and tugs, will be around Rs 198,000 million, 19.5% higher than the total imports of around Rs 165,700 million in 2020.

The trade deficit for 2021 is forecasted at around Rs 120,000 million, 25.7% higher as compared to around Rs 95,500 million in 2020.             

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​​ 26th November 2021