External Sector Performance - March 2024

The merchandise trade deficit narrowed in March 2024, (year-on-year), supported by a notable improvement in export earnings, the highest earnings recorded since August 2022.

The services sector also recorded a notable net inflow in March 2024 mainly from tourism, while sizeable inflows were recorded in terms of sea transport (freight) services as well.

Workers’ remittances remained elevated in March 2024 in line with the seasonal trend.

Foreign investments in the Colombo Stock Exchange (CSE) and the government securities market recorded monthly net outflows in March 2024.

Gross Official Reserves stood at US dollars 5.0 billion by end March 2024, a notable increase compared to the US dollars 4.4 billion as at end 2023.

The Sri Lanka rupee demonstrated a notable appreciation trend against the US dollar during the month of March 2024.


Published Date: 

Tuesday, April 30, 2024