Merchandise trade deficit for 2023 recorded the lowest level since 2010, supported by relatively larger contraction in import expenditure than that of export earnings.
The trade deficit widened in December 2023 compared to December 2022. However, imports continued to remain moderated, despite recent relaxations of import restrictions.
Workers’ remittances recorded a healthy level of around US Dollars 6 billion in 2023 and recorded the highest monthly value in December 2023 since April 2021.
Earnings from tourism for the year 2023 are estimated to have surpassed US dollars 2 billion as a result of a notable revival in tourist arrivals.
Foreign investments in the government securities market recorded net inflows in 2023.
Gross Official Reserves improved notably to US dollars 4.4 billion by end December 2023 and the Sri Lanka rupee recorded an appreciation of 12.1 per cent during the year 2023.