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Message: <blockquote data-quote="lkdood" data-source="post: 7444440" data-attributes="member: 92282">Sri Lanka's trade deficit jumped 320 percent to $344.5 million in February from $82.1 million a year earlier, the central bank said on Monday. (in millions of dollars) ------------------- February 2010 ----                                 Jan-Feb 2010    Exports --------------                 629.0 ----------             1,100.9     Imports                  -------------- 973.4 ----------              2,134.3     Balance of trade -- (-)344.5 ------- (-)1,033.4 - By end-February gross official reserves were at $5.03 billion, sufficient to finance 5.5 months of imports and down1.3 percent from the end of 2009. - For the first two months of 2010, Sri Lanka's trade deficit widened by 277.8 percent to $1.03 billion, comparedwith $273.6 million deficit a year ago. - Cost of oil imports has risen 165 percent in the first two months due to high oil prices compared to a year ago. - Exports of tea, Sri Lanka's main agricultural crop, have risen 49 percent to $312.4 million in the first two months,while garment and textile exports have fallen 18.1 percent to$422.2 million. - Workers' remittances from abroad have risen 13 percent to $564.4 million in the first two months. - The central bank has estimated the trade deficit would rise 56 percent in 2010 to $4.87 billion compared to $3.1billion in 2009. The central bank expects exports to rise by14.2 percent to $8.1 billion and imports by 27 percent to $13billion. The island nation posted a record $5.9 billion in2008.<a href="http://in.reuters.com/article/domesticNews/idINSGE6490IF20100510" target="_blank"><img src="http://www.reuters.com/resources_v2/images/logo_footer.gif" alt="" class="fr-fic fr-dii fr-draggable " style="" /></a></blockquote>

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