The merchandise trade deficit widened in August 2023 compared to a year ago led by higher decline in export earnings than the decline in import expenditure. However, both export earnings and import expenditure increased compared to July 2023.
Both workers’ remittances and earnings from tourism recorded notable improvements in August 2023 compared to the previous year.
In August 2023, foreign investment in the government securities market recorded a net outflow, while foreign investment to the Colombo Stock Exchange recorded a net foreign inflow in August 2023.
Gross Official Reserves were estimated at US dollars 3.6 billion by end August 2023.
The Sri Lanka rupee remained broadly stable against the US dollar in August 2023.
Full Report is attached below.
en.newswave.lk-press-20231002-external-sector-performance-august-2023-e1
The central bank says gross foreign reserves as at August 2023 are US $3.6 billion. Where is the evidence ? How is it made up? Unfortunately the governor is also playing politics and cooking up nice figures for public consumption .
Prof Lasantha Pethiyagoda
Amid the worst economic crisis Sri Lanka has ever faced, the people are starving and malnourished, with thousands dying every week from conditions that were easily preventable a few years earlier. In addition to IMF imposed strictures, the corrupt-to-the-core ruling cabal of criminals in arms continue to exploit the people’s gullibility and helplessness to further enrich themselves. The statistics provided in this website need to be supported with independent data from externally audited sources, to be assigned any credibility.