External trade for 1st Quarter 2023

Total external merchandise trade for the first quarter of 2023 was valued at Rs 90,802 million, i.e. 14.3% lower than the value of Rs 105,923 million of the previous quarter and 8.1% higher than the value of Rs 83,997 million of the corresponding quarter of 2022.

For the first quarter of 2023, total exports (inclusive of ship’s stores & bunkers) were valued at Rs 25,160 million against total imports of Rs 65,642 million. In the previous quarter, total exports (inclusive of ship’s stores and bunkers) amounted to Rs 28,269 million against total imports of Rs 77,654 million while for the corresponding quarter of 2022, total exports (inclusive of ship’s stores & bunkers) amounted to Rs 22,088 million against total imports of Rs 61,909 million. In the first quarter of 2023, total exports and total imports were lower by 11.0% and 15.5% respectively compared to the previous quarter. Compared to the corresponding quarter of 2022, total exports and total imports were higher by 13.9% and 6.0% respectively.

The resulting trade deficit for the first quarter of 2023 worked out to Rs 40,482 million, 18.0% lower than the deficit of Rs 49,385 million of the previous quarter and 1.7% higher than the deficit of Rs 39,821 million of the corresponding quarter of 2022. Ext_Trade_1Qtr23_260523