External Sector Performance – April 2023
• The trade deficit continued to remain modest in April 2023, compared to a year ago, though it recorded a month-on-month increase for the second consecutive month.
• Workers’ remittances and earnings from tourism improved notably in April 2023, compared to the same period of the previous year.
• The notable appreciation of the exchange rate that commenced in early March 2023, continued through April 2023.
• Foreign investments in the government securities market recorded a notable net inflow during the month.
• Gross official reserves improved further by end April 2023 with the net absorption of foreign exchange by the Central Bank from the domestic foreign exchange market.
