The Central Bank of Sri Lanka says that in March 2023, the income of industrial exports including garments has decreased. According to the report issued by the Central Bank’s Research Institute, the country’s import expenses have increased significantly in March.
The Central Bank of Sri Lanka’s Economic Research Institute had issued this report on the performance of the foreign sector in March 2023. According to the report, merchandise exports, which exceeded one billion US dollars for the first time in 2023, have recovered in March 2023. It is said that in the month of March, merchandise export income has shown a decrease of 2% to one billion US dollars.
It is said that by the end of March 2023, the country’s gross official reserves have increased to 2.7 billion US dollars. Also included is a foreign exchange facility equivalent to $1.4 billion from the People’s Bank of China. But it is stated that its use is subject to certain conditions.
According to its report, the Central Bank has purchased USD 451 million from the domestic foreign exchange market in March.
In March, the tourist arrival was recorded as 125,495 and during the last three months of the year, the arrival of tourists had exceeded three lakhs. It is said that the largest number of tourists came from Russia, India, United Kingdom, France and Germany in March.