• External Sector Performance - February 2019

    In February 2019, the deficit in the trade account narrowed further to US dollars 451million, recording the lowest monthly trade deficit in more than 5 years.

    The considerable reduction in the trade deficit was due to the notable decline in import expenditure by 27.6 per cent (year-on-year) and increased earnings from exports by 7.2 per cent (year-on-year) in February 2019.

    Earnings from tourism continued its robust performance, registering over 240,000 tourist arrivals per month since December 2018 and recording a growth of 7.0 per cent (year-on-year) in February 2019,

    Workers’ remittances declined by 12.4 per cent (year-on-year) in February 2019, to US dollars 500 million.

  • External Sector Performance - January 2019

    In January 2019, the trade deficit continued its improving trend observed in recent months. The trade deficit was recorded at US dollars 617 million during the month, compared to a deficit of US dollars 701 million in December 2018, and US dollars 1,049 million in January 2018.

    This significant reduction in the trade deficit was due to the combined effect of higher earnings from exports and a notable deceleration in import expenditure. Exports grew by 7.5 per cent while imports declined significantly by 17.8 per cent in January 2019 (year-on-year).

    Tourist arrivals grew by 2.2 per cent (year-on-year) in January 2019, resulting in earnings from tourism of US dollars 458 million during the month.

  • Sri Lanka Purchasing Managers’ Index - March 2019

    Manufacturing activities accelerated in March 2019 compared to February 2019. Manufacturing PMI reached a 46-month high and signalled a surge in manufacturing activities. The increase of PMI in March was largely attributable to increase in New Orders in line with the seasonal demand, especially in manufacturing of food and beverages.

    The Production also increased significantly, with the intention of achieving expected production levels ahead of the new year holidays in April. The Stock of Purchases and Employment also increased during the month in line with tight production schedules. Most respondents, especially in textile and apparel sector, highlighted that they had to work overtime in order to timely fulfil the orders ahead of festival holidays. Further, lengthening of Suppliers’ Delivery Time also contributed positively to the overall increase.

  • The Central Bank Launched a Roadmap for Sustainable Finance in Sri Lanka

    Dr. P Nandalal Weerasinghe, Senior Deputy Governor, Central Bank of Sri Lanka Launching the Roadmap for Sustainable Finance in Sri Lanka at the Sustainable Banking Network Global Meeting of the International Finance Corporation.Central Bank of Sri Lanka launched a Roadmap for Sustainable Finance in Sri Lanka on 10 April 2019 at the Sustainable Banking Network Global Meeting of the International Finance Corporation (IFC) in Washington, D.C, USA.

  • Real-time Notifications for Transactions in Government Securities (SMS/Email Alert Service)

    Introducing another feature for the investments and to enhance the awareness of investors in the Government Securities (‘Customers’ of the LankaSecure System), the Central Bank of Sri Lanka which operates and maintains the LankaSecure System has introduced an SMS/ Email Alert Service from 25th March 2019. 

    The SMS/ Email Alert is a service that sends real-time notifications to investors in Government Securities for each and every movement of scripless securities in Customer’s Securities Account(s). In other words, customers receive a notification (SMSs from “LankaSecure” and emails from “no-reply@cbsl.lk”) immediately after a transaction in their Securities Account which is also known as CDS account.

  • Monetary Policy Review - No. 2 of 2019

    The Monetary Board of the Central Bank, at its meeting held today, 08 April 2019, decided to maintain policy interest rates at their current levels. Accordingly, the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank will remain at 8.00 per cent and 9.00 per cent, respectively. The Board arrived at this decision following a careful analysis of current and expected developments in the domestic economy, the financial market as well as the developments in the global economy, with the broad aim of stabilising inflation at mid single digit levels in the medium term to enable the economy to reach its potential.

  • Opening of a Counter to Issue Coins to the General Public

    The Central Bank of Sri Lanka will open a Counter at the ground floor of the Central Bank Head Office Building, No.30, Janadhipathi Mawatha, Colombo 01 on 27 March 2019, to issue coins to the general public.

    This counter will be opened for the public from 9.00 a.m. to 11.00 a.m. on every Wednesday and Thursday, except public and bank holidays.

  • Inflation Increased in February 2019

    Headline inflation as measured by the year-on- year change in the National Consumer Price Index (NCPI, 2013=100)1 increased to 2.4 per cent in February 2019 from 1.2 per cent in January 2019 mainly due to the base effect. Meanwhile, year-on-year Non-food inflation increased to 6.7 per cent in February 2019 from 6.5 per cent in January 2019 while Food inflation also increased to -2.9 per cent in February 2019 from -4.8 per cent in January 2019.

  • Issuances of International Sovereign Bonds (ISB) by the Central Bank of Sri Lanka

    With reference to the recent paper articles on the governance process and issuing yields relating to the 5-year and 10-year International Sovereign Bonds (ISBs) issued by the Central Bank of Sri Lanka (CBSL) on behalf of the Government of Sri Lanka (GOSL), the CBSL wishes to make the following clarifications: 

  • Sri Lanka Purchasing Managers’ Index - February 2019

    Manufacturing activities increased at a slower rate in February 2019 compared to January 2019, mainly driven by the decrease in new orders and production, especially in manufacturing of textiles, wearing apparels, leather and related activities. This decline was mainly due to the lesser number of working days in February. Stock of purchases also decreased during the month in line with the decrease in new orders and production.

    However, a slight improvement in employment was experienced with the recruitment of new employees to enhance business activities for upcoming seasonal demand. Meanwhile, suppliers’ delivery time lengthened at a slower rate. Logistical issues experienced at the beginning of February and supply disruptions due to Chinese new year holiday season have lengthened the suppliers’ delivery time. All sub-indices apart from new orders and production, recorded values above the neutral 50.0 threshold.

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