Sri Lanka's trade grows in Q1-Xinhua

Sri Lanka's trade grows in Q1

Source: Xinhua| 2024-05-06 19:22:15|Editor: huaxia

COLOMBO, May 6 (Xinhua) -- Sri Lanka's import increased by 12.9 percent and export by 5.7 percent in the first three months of this year, compared to a year earlier, State Minister of Finance Ranjith Siyambalapitiya said on Monday.

According to a statement from his office, agricultural exports grew by 5.1 percent and industrial exports by 6 percent year on year during the first quarter, noting Sri Lanka's economy benefited from an expansion in manufacturing, industrial and tourism sectors in the cited period.

Sri Lanka's economy is projected to grow at a moderate 2.2 percent in 2024, showing signs of stabilization following the severe economic downturn in 2022, according to the World Bank in its latest biannual update.