Total exports for the fourth quarter of 2023, including domestic exports, re-exports and ship’s stores and bunkers, amounted to Rs 26,072 million, showing a decrease of 7.8% compared to the value of Rs 28,269 million in the corresponding quarter of 2022.
4th Quarter 2024
This is mainly explained by decreases in the exports of “Chemicals and related products, n.e.s » (-36.5%), “Miscellaneous manufactured articles » (-18.6%), “Manufactured goods classified chiefly by material » (-17.3%), “Machinery and transport equipment » (-14.1%) and “Food and live animals » (-2.1%), partly offset by an increase in the exports of “Ship’s stores and bunkers » (+11.6%).
Compared to the previous quarter, total export proceeds for the fourth quarter of 2023 decreased by 5.0%
The trade deficit for the fourth quarter of 2023 worked out to Rs 47,777 million, around 3.3% lower than the deficit of Rs 49,385 million of the corresponding quarter of 2022.
Compared to the previous quarter, the deficit for the fourth quarter of 2023 increased by 6.7%.
Year 2023
Exports
Total export proceeds for the year 2023 were valued at Rs 104,081 million, representing a decrease of 1.4% over the 2022 figure of Rs 105,524 million. This is explained by decreases in “Manufactured goods classified chiefly by material » (-13.0%) and “Miscellaneous manufactured articles » (-9.4%), partly offset by an increase in “Food and live animals » (+17.2%).
Imports
Total imports for the year 2023 amounted to Rs 284,348 million, representing a decrease of 2.7%, compared to Rs 292,112 million in 2022. This is mostly explained by decreases in “Manufactured goods classified chiefly by material » (-18.4%) and “Mineral fuels, lubricants & related products »
(-12.4%), partly offset by increases in “Machinery & transport equipment » (+18.4%) and “Food and live animals » (+3.4%).
Balance of trade
The trade deficit for year 2023 worked out to Rs 180,267 million, around 3.4% lower than the deficit of Rs 186,588 million for the year 2022.
