The External Sector of Sri Lanka’s economy improved notably in 2024, with the robust inflows to the current account for the second consecutive year and strengthened reserves.
The merchandise trade deficit (Y-o-Y) widened in 2024. Import expenditure for December 2024 was the highest in 2024.
Tourist Earnings were estimated at USD 3,169 mn in 2024 with more than 2 million tourist arrivals.
Inflows and outflows in both tourism and non-tourism related services (Transport, IT/BPO) recorded improved performance in 2024.
Workers’ Remittances increased to US dollars 614 million in December 2024, in comparison to US dollars 570 million in December 2023.
Foreign investments in CSE recorded a net inflow in 2024, mostly driven by foreign investments in the primary market.
Gross Official Reserves increased to USD 6.1 bn at end 2024 compared to US dollars 4.4 bn at end 2023 supported by forex purchases of Central Bank in 2024 at historically highest levels.
