Apparel Woes

Exports fell to US$ 336 mn in June from US$ 437 mn a year earlier. Imports on the other hand slipped 9 percent to US$ 465 mn during the period, mainly due to lower imports of food and beverages, investments and defence equipment.

rnThe overall result, pushed the trade deficit up by 11 percent to US$ 863 mn during the first half of 2002, the bank said in a statement.

rnExport earnings during the six-month period faltered by 17 percent to US$ 2,012 mn compared with US$ 2,432 mn in 2001.

rnrnImport expenditure from Jan-June slipped by 11 percent to US$ 2,875 mn over the same period 2001.

rnThe biggest money spinner, textile and apparel sector, was down 32 percent to US$ 163 mn in June 2002.

rnThe bank said the sector continued to be effected by the sluggish demand from some industrial countries, mainly from USA and European Union.

rnHowever, the average prices of textiles and apparels showed an increasing trend in May and June 2002, though they were lower than that of the corre