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Sri Lanka services exports rise in September

Sri Lanka's services exports surged by 55.6% to $2.3 billion, driven by ICT/BPO, construction, financial services, transport, and logistics. The country's total goods and service exports for the first nine months of 2023 amounted to $11.3 billion, a 1.8% decline from the previous year. Notably, these figures exclude remittances, a significant source of foreign currency for imports. Official remittances increased by 68% to $4.3 billion during this period, contributing to total inflows of $15.6 billion, which was 68% higher than the previous year. The rise in remittances, along with changes in external payments and currency dynamics, has implications for Sri Lanka's balance of payments.

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