Sri Lanka's exports rose by 14.1 per cent from a year earlier to 976 million US dollars in October 2017, this was due to increased demand from the US and higher prices for agricultural products. Apparel exports to the US increased by 14.7 per cent while exports to the EU was up 8.0 per cent, with the help of GSP+ facility, the Central Bank disclosed. The US economy had been recovering and the Federal Reserve is already raising rates.

In the first 10 months of the year, exports were up 8.8 per cent to 9,399.7 million US dollars. Imports grew only 0.2 per cent to 1,727.2 million US dollars in October as against a year earlier with foreign reserve collections and slowing credit depressed economic activity. Up to October imports were up 8.7 per cent to 16.99 billion US dollars and the trade gap was up 2.7 per cent to 2,924 million US dollars.

Sri Lanka is now recovering from a balance of payments crisis generated in 2015 with large deficit budget which was accommodated by the Central Bank with money printing. When credit slows and foreign reserves are collected imports, and economic activity can slow or contract, though returning capital can help lessen the pain. The Central Bank disclosed that Sri Lanka's gross official reserves had risen to 7.5 billion US dollars by October 2017, with a 2.0 billion surplus in the balance of payments.