Sri Lanka Trade Deficit Widens as Imports Outpace Exports in May: CBSL

Sri Lanka trade deficit widens as imports outpace exports in May: CBSL

Sri Lanka trade deficit widens as imports outpace exports in May: CBSL

Sri Lanka fuel import bill doubles in May as external sector remains under pressure - LNW Lanka News Web

Sri Lanka’s expenditure on fuel imports increased by 112% year-on-year to US$536 million in May 2026, driven by higher global oil prices and increased import volumes, according to the Central Bank of Sri Lanka (CBSL). However, on a month-on-month basis, fuel import expenditure declined by 39.5% in May. In its External Sector Performance Report for May 2026, the CBSL said the ongoing conflict in the Middle East continued to affect Sri Lanka’s ext…

External Sector Performance - May 2026 | Central Bank of Sri Lanka

The external sector performance continued to reflect the impact of the war in the Middle East, with the current account recording a deficit for the second consecutive month in May 2026. The external current account recorded a deficit of US$ 194 million in May 2026, mainly driven by the widened trade deficit, a moderation in the services surplus, despite an increase in workers’ remittances compared to a year earlier. Consequently, the external cu…