Trade deficit narrows further in July
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Sri Lanka, Sept. 15 -- Sri Lanka's trade deficit narrowed by US $ 509 million in July 2020 to US $ 209 million, from US $ 717 million in July 2019, as exports increased while imports recorded a decline.
Also, on a cumulative basis, the trade deficit narrowed by US $ 844 million to US $ 3,370 million during the first seven months of 2020, from US $ 4,314 million in the corresponding period of 2019.
A significant decline in oil imports, personal vehicles, machinery and equipment, building materials and textile and textile articles, was the main contributory factor towards the narrowing of the trade gap in the first seven months of the year.
Earnings from merchandise exports topped the US $ 1 billion mark in July, first time since January...
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