Exports in November 2021 records highest monthly export value in history

Earnings from exports in November 2021 recorded the highest monthly export value in the history, while marking the sixth consecutive month of above US dollars 1.0 billion of exports, according to reports on the External Sector performance issued by the Central Bank.

Meanwhile, import expenditure also increased at a higher rate in November 2021. Reflecting the favourable impact of increased exports, the merchandise trade deficit narrowed to US dollars 553 million in November 2021 compared to US dollars 600 million in November 2020.

Tourist arrivals continued to gather momentum with a notable increase over the previous month, showing strong signs of revival. A further moderation of workers’ remittances was observed in November 2021.

The weighted average spot exchange rate in the interbank market continued to hover around Rs. 202 per US dollar during the month.