The external sector performance moderated with an expansion of the trade deficit in March 2016. Earnings from exports declined while imports reduced marginally during the month compared to the previous year. However, during the first quarter of 2016, the trade deficit contracted compared to the corresponding period of 2015 due to the reduction in imports which outweighed the reduction in exports. Tourist earnings and workers’ remittances increased, strengthening the current account of the Balance of Payments (BOP) while inflows to the financial account continued to moderate.

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The Statistics Department of the Central Bank of Sri Lanka (CBSL) initiated conducting PMI survey for Manufacturing and Services sectors in the country starting from May 2015. The purpose of the survey is to provide purchasing professionals, business decision-makers and economic analysts with a timely set of data to help better understand industry conditions. This survey is conducted monthly by the department and it completed one year cycle in April 2016. Thus, the CBSL decided to release the survey results for the information of the general public. The report on the PMI survey results for May 2016 along with the past series of PMI is given below. The survey results can be accessed via CBSL website under Statistics section which will be updated on monthly basis.

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