Colombo, Feb 1 (IANS) Sri Lanka’s total import expenditure for 2022 was about $18.3 billion, a decline of 11.4 per cent compared to 2021, according to the latest data from the country’s central bank.
This is the result of restricting non-urgent imports and liquidity constraints that prevailed in the market for the most part of 2022, the Central Bank of Sri Lanka said.
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It also said the earnings from exports in 2022 surpassed $13 billion per year for the first time, an increase of 4.9 per cent from 2021.
The deficit in the trade account narrowed to the lowest level since 2010 to about $5.2 billion, compared with over $8 billion in 2021.
Workers’ remittances in 2022 amounted to about $3.8 billion, in comparison to about $5.5 billion in 2021, recording a decline of 31 per cent, though a notable recovery was witnessed during the latter part of the year, according to the central bank.
It said earnings from tourism are estimated at over $1.1 billion in 2022, compared to $507 million in 2021.