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Textile and Apparel Exports rebounded in August, 2002 as a sign that economic recovery is taking place in industrialised countries.

In August, 2002 textile and apparel recorded an export value of US $ 339 million as against US $ 231 million in August, 2001, an increase of 47%. This is the highest recorded earnings for a single month since December, 2000. The increase was a result of a 51% growth in volume, as export prices remained at a lower level than in August 2001. However, the average price of textiles and Apparel has shown an increasing trend since May, 2002.

The increase in textile and apparel exports was largely due to the demand from US, UK, Canada and Germany.

The breakdown of exports is as follows -

Woven fabric - US$ 5.9 million, knitted fabric-US$ 1.7 million, yarn-US$ 2.6 million, apparel-US$321.1 million other made-ups-US$3.6 million and Others US$ 4.3 million.

Textile and Apparel imports, during August, 2002 were US$ 98.4 million as against US$93.3 million in August, 2001 and up by 5%.

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Copyright 2001 The Associated Newspapers of Ceylon Ltd.
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