Total exports (inclusive of ship’s stores & bunkers) for the second quarter of 2024 were valued at Rs 29,579 million, showing an increase of 17.6%, compared to the corresponding quarter of 2023.
This is mainly explained by increases in the exports of “Ships’ stores & bunkers » (+91.4%), “Food and live animals » (+9.0%) and “Manufactured goods classified chiefly by material » (+0.1%), partly offset by decreases in the exports of “Machinery and transport equipment » (-12.9%), “Miscellaneous manufactured articles » (-6.2%) and “Chemicals and related products n.e.s » (-1.4%). Compared to the previous quarter, the total exports for second quarter of 2024 increased by 26.6%.
For the first semester of 2024, total exports valued at Rs 52,938 million increased by 4.5%, compared to Rs 50,660 million in the corresponding period of 2023.
Total imports, for the second quarter of 2024, amounted to Rs 76,712 million showing an increase of 5.6%, compared to the corresponding quarter of 2023. This is mainly due to increases in imports of “Mineral fuels, lubricants and related materials » (+40.4%) and “Chemicals and related products n.e.s » (+12.6%), partly offset by decreases in the imports of “Beverages and tobacco » (-39.3%), “Miscellaneous manufactured articles » (-6.5%), “Manufactured goods classified chiefly by material » (-2.7%), “Food and live animals » (-2.1%) and “Machinery and transport equipment » (-0.7%). Compared to the previous quarter, the total imports for the second quarter of 2024 increased by 10.5%.
For the first semester of 2024, total imports amounting to Rs 146,119 million increased by 5.7%, compared to Rs 138,252 million in the corresponding period of 2023.
Based on trends and information from various sources, the forecast for year 2024 for both total exports and total imports have been maintained at the previous forecast figures.
