Merchandise trade deficit widened in October 2023 due to relatively low export earnings driven by subdued garment exports and high import expenditure driven by fuel imports, compared to October 2022 as well as September 2023. 

Workers’ remittances exceeded US dollars 500 million in October 2023, while earnings from tourism continued the notable improvement in October 2023, compared to a year ago. 

Foreign investments in the government securities market continued to record a net outflow in October 2023, however, year-to-date net inflows continued to be positive.

Gross Official Reserves amounted to US dollars 3.6 billion by end October 2023.

The Sri Lanka rupee remained stable against the US dollar during the month of October 2023.

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