External Trade - 3rd Quarter 2019
Highlights
 
Exports
 
Total exports for the third quarter of 2019 amounted to Rs 20,056 million, 3.8% lower, compared to the corresponding quarter of 2018. This is mainly explained by decreases in exports of “Machinery and transport equipment” (-18.6%), “Miscellaneous manufactured goods” (-10.7%) and “Food and live animals” (-8.3%) partly offset by increases in exports of “Ship’s stores and bunkers” (+15.4%), “Manufactured goods classified chiefly by material” (+6.3%) and “Chemicals and related products, n.e.s” (+0.5%).
 
Compared to the previous quarter, total exports for the third quarter of 2019 decreased by 2.0%. This is mainly explained by decreases in exports of “Machinery and transport equipment”(-25.3%), “Food and live animals”(-12.9%), “Manufactured goods classified chiefly by material” (-7.0%) and “Miscellaneous manufactured goods” (-5.9%) partly offset by increases in exports of “Ship’s stores and bunkers” (+42.4%) and “Chemicals & related products, n.e.s” (+18.1%).
 
Imports
 
Total imports in the third quarter of 2019 amounted to Rs 51,376 million, an increase of 1.8% compared to the corresponding quarter of 2018. This is mainly due to increases in imports of “Miscellaneous manufactured articles” (+20.7%), “Chemicals and related products” (+5.8%) and “Machinery and transport equipment” (+5.3%), partly offset by decreases in the imports of “Manufactured goods classified chiefly by materials” (-5.1%), “Food and live animals” (-1.5%) and “Mineral fuels, lubricants and related products” (-1.0%).
 
Compared to the previous quarter, total imports for the third quarter of 2019 increased by 5.9%. This is mainly due to increases in imports of “Machinery and transport equipment” (+13.4%), “Mineral fuels, lubricants and related products” (+10.6%), “Miscellaneous manufactured articles” (+10.5%) and “Food and live animals” (+2.4%), partly offset by a decrease in the imports of “Manufactured goods classified chiefly by material” (-3.6%).
 
Balance of trade
 
The trade deficit for the third quarter of 2019 works out to Rs 31,320 million, around 5.8% higher than the deficit of Rs 29,605 million for the corresponding quarter of 2018. Compared to the previous quarter, the deficit was higher by 11.6%.
 
Forecast 2019
 
Based on trends and information from various sources, the forecast of total exports for 2019 will be around Rs 82,500 million lower than the previous exports forecast figure of Rs 83,000 million. Total Imp​orts for 2019 is forecasted around Rs 206,600 million, lower than the previous forecast figure of Rs 207,800 million. To note that the forecast includes one – off items such as tugs, linear accelerator for cancer treatment and metro trains.
 
The trade deficit for 2019 is forecasted to be around Rs 124,100 million, compared to Rs 112,100 million in 2018.
 
 
 
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November 2019