Central Bank reports indicate that Sri Lanka recorded the highest ever earnings through exports as the total value of exports reached an all time high of US$ 863 million in December 2007. The increase is a growth 22.7% year on year, with the major contributions coming from the apparel and agricultural sectors.

The apparel sub sector spearheaded the industrial sector with a contribution of 78% of the total exports while the agricultural exports contributed for 17% in the month of December.

Cumulative exports for the year 2007 reached US$ 7,740 million with a growth of 12.5% of increase from the year 2006.

On the other hand, the imports for December 2007 also increased from 33.6% year on year, reaching US$ 1,159 million. Petroleum products contributed to 60% of the total imports in the month of December.

Cumulative imports recorded an increase of 10.2% from the year 2006 with total value of US$ 11,301 million. The trade deficit settled at US$ 3,560 with a moderate increase of 5.6% year on year growth and 34% increase since the year 2006. The overall balance of payments (BOP) registered a surplus of US$ 531 million at the end of 2007 with gross official reserve of US$ 362.5 sufficient for 3.3 months of import cover.