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​External trade – 3rd Quarter 2022 

Highlights

Total Exports

  1. 1.    Total exports (inclusive of ship's stores & bunkers) for the third quarter of 2022 were valued at Rs 26,886 million, showing an increase of 20.7%, compared to the corresponding quarter of 2021. This is mainly explained by increases in exports of “Ship's stores & bunkers" (+37.3%), “Food and live animals" (+37.0%), “Manufactured goods classified chiefly by material" (+21.4%), “Chemicals and related products, n.e.s" (+9.0%) and “Miscellaneous manufactured articles" (+5.4%).

  2. 2.   Total exports for the third quarter of 2022 increased by 3.5%, compared to the previous quarter.

    Total Imports
  3. 3.   Total imports for the third quarter of 2022 amounted to Rs 77,046 million showing an increase of 40.7%, compared to the corresponding quarter of 2021. This is mainly explained by increases in the imports of “Mineral fuels, lubricants & related products" (+67.9%), “Machinery & transport equipment" (+41.8%), “Food and live animals" (+37.2%), “Miscellaneous manufactured articles" (+36.4%), “Manufactured goods classified chiefly by material" (+23.4%) and “Chemicals and related products, n.e.s." (+20.9%).

    Balance of trade
  4. 4.   The trade deficit for the third quarter of 2022 worked out to Rs 50,160 million, 0.8% higher than the deficit of Rs 49,782 million of the previous quarter and 54.4% higher than the deficit of
    Rs 32,492 million of the corresponding quarter of 2021.

    1. Forecast for year 2022
       
    2. 5.   Based on trends and information from various sources, the forecast of total exports for 2022 will be around Rs 100 billion, 22.0% higher than the total exports of around Rs 82 billion in 2021. Total imports for 2022, including one-off items such as machinery for metro terminals and aircraft/helicopters, will be around Rs 300 billion, 39.5% higher than the total imports of around Rs 215 billion in 2021. 

      The trade deficit for 2022 is forecasted at around Rs 200 billion, 50.3% higher as compared to around Rs 133 billion in 2021.
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