Srilanka, Feb. 3 -- The External Sector of the Sri Lankan economy improved notably in 2024, with robust inflows to the current account for the second consecutive year and strengthened reserves.

Gross Official Reserves (GOR) stood at USD 6.1 billion at end 2024 compared to USD 4.4 billion at end 2023, supported by net purchases by the Central Bank from the domestic foreign exchange market during 2024 at historically highest levels and funds received from multilateral institutions.

GOR includes the swap facility with the People's Bank of China (PBOC), which was renewed for 3 years in December 2024. Meanwhile, import coverage of GOR (including the PBOC swap) was 3.9 months as at end December 2024. Earnings from merchandise exports in 2024...