6.5 pc rise in external trade in Q 3: CSO

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The central statistics office (CSO) published data on external trade for the third quarter of 2011 and it shows the value of international trade at Rs 56, 633 million. It is 6.5 per cent higher than the previous quarter and 11.2 higher in relation to the corresponding quarter of 2010. During the third quarter of [...]

The central statistics office (CSO) published data on external trade for the third quarter of 2011 and it shows the value of international trade at Rs 56, 633 million.

It is 6.5 per cent higher than the previous quarter and 11.2 higher in relation to the corresponding quarter of 2010.

During the third quarter of 2011, total exports were valued at Rs 20, 069 against imports of Rs 36, 564 million and this resulted in a trade deficit of Rs 16, 495 million.

The total export proceeds for the third quarter of 2011 including domestic re-exports amounted to Rs 20, 069 million showing increases of 8.9 per cent compared to the previous quarter. Domestic exports which accounted for 71.2 per cent of total exports went up by 4.6 per cent in comparison to the last quarter.

The exports of ‘food and live animals‘ for the first nine months of 2011 amounted to Rs 15, 227 million, showing a rise of 6.1 per cent over the corresponding period of 2010. The exports for ‘sugar‘ went by 25.1 per cent while those for ‘fish and fish preparation‘ declined by 2.9 per cent.

During the first nine months of 2011, exports of Exports Oriented Enterprises (EOE) amounted to Rs 32, 555 million, showing an increase of 11.7 per cent compared to the corresponding period of 2010.

The analysis of export data by country of destination showed that Europe is our main buyers and they purchased some 62.5 per cent of our exports at a value of Rs 10,298 million. UK topped the list with 21,3 per cent of exports, followed by France 14.6 per cent and U.S.A at 10.7 per cent, among others.

The data also shows that total imports from Asia represented 53.9 per cent of total imports. India remained our major supplier with 24.2 per cent of imports followed by China 13.8 per cent and France 8.7 per cent.

Total exports to African, Carribean and acific (ACP) states during the third quarter of 2011 stood at Rs 8.142 million against imports of Rs 11,032. The trade deficit with ACP countries stood at Rs2, 890 million.