Merchandise trade deficit widened in July 2023 due to the combined impact of relatively low export earnings and high import expenditure, compared to July 2022. However, cumulative trade deficit during January-July 2023 remained significantly low, compared to the corresponding period in 2022.
Workers’ remittances increased notably and earnings from tourism continued to improve in July 2023, over the same period last year.
Foreign investment in the government securities market recorded a net outflow, while the Colombo Stock Exchange recorded net foreign inflows during July 2023.
Gross official reserve level (GOR) recorded at US dollars 3.8 billion by end July 2023.
The Sri Lanka rupee experienced some volatility against the US dollar in July 2023.