Sri Lanka’s exports slipped 13.4 percent to 770.4 million US dollars in October from a year earlier, with tea being hit by Middle East tensions with apparel falling amid weak demand, the Central Bank said. Exports of apparel had fallen 16.6 percent to 297.2 million US dollars in October and tea had fallen 9.6 percent to 187.5 million US dollars. In the first ten months of the year exports had fallen 6.6 percent to 8,163 million US dollars. Falling exports also reduce the money available to be spent on imports. But imports are also driven by spending power that comes from remittances which grew 17.6 percent to 7.5 billion US dollars in the first ten months and other foreign earnings including tourism. The trade gap narrowed 6.7 percent to 810 million US dollars.]]>

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