Arab Today, arab today sri lanka’s trade record 974b
Last Updated : GMT 08:12:45
Arab Today, arab today
Arab Today, arab today

Sri Lanka’s trade record $9.74B

Arab Today, arab today

Arab Today, arab today Sri Lanka’s trade record $9.74B

Colombo - Arabstoday

Sri Lanka’s trade deficit doubled to a record $9.74 billion in 2011 year-on-year as increased imports of oil, consumer goods and capital items outpaced growth in exports, the central bank said on Friday. The trade gap in December widened 43.5 per cent year-on-year to a record $1 billion. Imports for the full year jumped 50.4 per cent to a record $20.23 billion, while exports gained 22.4 per cent to $10.49 billion. The imports rose 33.7 per cent in December to $1.91 billion, while exports rose 24.3 per cent to $905.5 million. The island nation’s foreign exchange reserves, which the central bank spent to defend the rupee currency, fell 3.9 per cent to $5.96 billion from $6.2 billion a month ago. Meanwhile, Sri Lanka expects crude imports from Iran to drop by at least 10 per cent this year due to a range of inflation-fighting policies that should cool demand, potentially helping it find a way around US sanctions, a government official said on Friday. The Indian Ocean island nation is facing one of the biggest squeezes from the impending sanctions, despite being a small player in the world crude market, since its sole refinery can only process Iranian crude and a handful of others. In the last month, Sri Lanka has increased interest rates for the first time since 2007 to avert a looming balance-of-payments crisis, raised state-controlled fuel prices by as much as 37 per cent, and stopped defending the rupee currency “We’re quite confident there will be a reduction in the quantity of oil we purchase because of our new policies,” the official told Reuters on condition of anonymity. “Our own view is that it will reduce by at least 10 per cent, and that will satisfy both parties,” the official said. He expected the 10 per cent reduction would be year-on-year. That could give Sri Lanka some leverage to argue it has reduced ties with Iran, and followed in the footsteps of India, China and Japan, the official said. All three plan cuts of 10 per cent or more, and South Korea is in talks to trimming ties with Tehran. The United States has said that is a precursor to any waiver from the sanctions, which would lock violators out of the US financial system.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today sri lanka’s trade record 974b Arab Today, arab today sri lanka’s trade record 974b

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 14:44 2017 Saturday ,25 February

China overtakes US as Germany’s top trade partner

GMT 05:53 2017 Saturday ,25 February

Global sovereign debt to hit new all-time high

GMT 05:17 2017 Saturday ,25 February

Oil world cautious on Trump’s next move

GMT 09:59 2017 Friday ,24 February

Baidu revenue slips anew amid ad clampdown

GMT 05:20 2017 Thursday ,23 February

WTO ratifies first multilateral trade deal
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday