Thursday, 27 March 2014 - 11:42
Textiles, garment exports grows by 23.4% to $ 412 million
Earnings from exports increased, reflecting the ongoing recovery in the global economy while expenditure on imports also increased, although at a lower rate, driven mainly by the increase in intermediate goods imports.
The contraction in the trade deficit, higher inflows on account of workers' remittances and an increase in tourist earnings contributed to reducing the current account deficit.
These developments together with continued inflows to the financial account are expected to have resulted in a higher surplus in the Balance of Payments during January 2014, compared to the corresponding period of 2013.