Exports zero growth in March with textile and apparel reducing by 5.3%

Exports recorded zero growth in March, with exports of textile and apparel reducing by 5.3 percent compared to a 11.9 percent increase in January and February. Exports recorded zero growth in March, with exports of textile and apparel reducing by 5.3 percent compared to a 11.9 percent increase in January and February. “Export earnings in March 2005 remained unchanged at US$ 515 mn as compared with the high level of exports in March 2004, but recorded an increase over the level in February, 2005,” said the Central Bank’s external sector performance statement for March.

Industrial exports declined overall by two percent in March 2005 lead by the largest local export item, apparel and textile.

“The exports of textiles and apparels, which registered 11.9 percent increase during the first two months of 2005, declined by 5.3 percent in March 2005,” said the statement.

Machinery and equipment (55.6 percent), plastic (5.6 percent) and ceramic products (22.0 percent) also declined in March 2005.

However, improvements were recorded in the exports of food, beverages and tobacco by 26.6 percent, rubber based products by 38.6 percent, petroleum products