Lanka trade deficit narrows to $206m

COLOMBO: Data released recently showed the Seri Lanka’s trade deficit narrowed year-on-year to $206 million in September.

Sri Lanka is in the grip of a deep financial crisis, caused by record-low foreign exchange reserves that have left it struggling to pay for essential imports including fuel, food, cooking gas and medicine.

Gross official reserves dipped month-on-month to $1.7 billion at the end of October, central bank data showed on Friday, from $1.8 billion at the end of September.