{"id":36283,"date":"2012-03-28T23:14:27","date_gmt":"2012-03-28T23:14:27","guid":{"rendered":"http:\/\/www.colombotelegraph.com\/?p=36283"},"modified":"2012-03-28T23:14:27","modified_gmt":"2012-03-28T23:14:27","slug":"sri-lanka-struggles-to-reduce-1-bn-dollar-deficit","status":"publish","type":"post","link":"https:\/\/www.colombotelegraph.com\/index.php\/sri-lanka-struggles-to-reduce-1-bn-dollar-deficit\/","title":{"rendered":"Sri Lanka Struggles To Reduce $1 Bn Dollar Deficit"},"content":{"rendered":"<p><strong>By\u00a0<a href=\"http:\/\/www.newstrackindia.com\/newsdetails\/2012\/03\/27\/119--Sri-Lanka-struggles-to-reduce-1-bn-dollar-deficit-.html\">newstrackindia<\/a> &#8211;<\/strong><\/p>\n<p><a href=\"http:\/\/www.colombotelegraph.com\/index.php\/sri-lanka-struggles-to-reduce-1-bn-dollar-deficit\/dollar\/\" rel=\"attachment wp-att-36285\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-thumbnail wp-image-36285\" title=\"dollar\" src=\"http:\/\/www.colombotelegraph.com\/wp-content\/uploads\/2012\/03\/dollar-150x150.jpg\" alt=\"\" width=\"150\" height=\"150\" srcset=\"https:\/\/www.colombotelegraph.com\/wp-content\/uploads\/2012\/03\/dollar-150x150.jpg 150w, https:\/\/www.colombotelegraph.com\/wp-content\/uploads\/2012\/03\/dollar-50x50.jpg 50w, https:\/\/www.colombotelegraph.com\/wp-content\/uploads\/2012\/03\/dollar.jpg 300w\" sizes=\"auto, (max-width: 150px) 100vw, 150px\" \/><\/a>Colombo, March 27 (IANS) Sri Lanka&#8217;s external trade in 2012 has begun with a nearly $1 billion trade deficit due to a mixed performance with subdued exports and high imports, the Central Bank said here Tuesday.<\/p>\n<p>Exports in January were down by $5 million or 0.6 percent to $918 million in comparison to a year earlier whilst imports grew by 20 percent to $1.88 billion triggering a deficit of $965.5 million, reported Xinhua.<\/p>\n<p>The deficit saw an increase of 50 percent when compared with January 2011, Central Bank data said.<\/p>\n<p>Agriculture exports saw a dip of 14 percent to $181.5 million in January. Tea exports, Sri Lanka&#8217;s highest foreign exchange earning crop, dipped by 20 percent to plunge to $104 million.<\/p>\n<p>Sri Lanka&#8217;s top foreign exchange earner, apparel, had managed to grow by 1.6 percent to $366.6 million whilst overall industrial exports which contribute about 80 percent to the total exports improved by 3.3 percent to $732.6 million.<\/p>\n<p>Sri Lanka has been struggling to reduce its trade deficit with the Central Bank working on increasing inflows to stabilize a fast depreciating rupee, which is also hurting exports. The currency depreciated by 14 percent in February before hitting a new low of 131 against the dollar.<\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":36285,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,49,2201],"tags":[1899,2366,2367],"class_list":["post-36283","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-colombotelegraph","category-economy","category-from-foreign-media","tag-sri-lanka-economic-policy","tag-sri-lankas-external-trade-in-2012","tag-sri-lankas-top-foreign-exchange-earner"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sri Lanka Struggles To Reduce $1 Bn Dollar Deficit - Colombo Telegraph<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.colombotelegraph.com\/index.php\/sri-lanka-struggles-to-reduce-1-bn-dollar-deficit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sri Lanka Struggles To Reduce $1 Bn Dollar Deficit - 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