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nsure accurate feedback, its stringent quality control measures adhere to the WatchBuilder standards, a process, globally unique to the Nielsen Company.

? Brand Excellence

The SLIM Brand Excellence Awards is a celebration of brand excellence at national level and rewards the outstanding efforts of outstanding marketers. Through this event, SLIM endeavours to not only encourage best practices in branding, but also to raise local brands to global standards, to enhance the image of marketing in the country and that of SLIM in the region. This event translates as industry recognition of the motivation, dedication and hard work that great marketers have demonstrated in making brand champions. Each year panel of judges evaluates the contenders for each category of award, looking for those elusive qualities which elevate a brand above the sea of nondescript products. For the Brand Excellence Awards to be truly successful there must be industry-wide, representative participation which will ensure healthy competition. (SLIM, 2008)

4. Sri Lanka and international business

4.1 Trends in Sri Lankan trade

Sri Lanka's exports grew 14.7 percent helped by strong prices for tea, while apparel exports grew by a slow 5.3 percent where the trade deficit expanded 92 percent on higher oil and capital goods imports. The Central Bank said April export earnings increased 14.7 percent to 610 million US dollars with agricultural and industrial exports contributing 59 percent and 37 percent. According to official data, agriculture exports grew 46.5 percent in April 2008 compared with a year ago on the back of increased export prices of tea. The average export price of tea was four US dollars a kilogram, the highest recorded up to then. Industrial exports grew by 6.9 percent supported by increased exports of garments, food, beverages, tobacco, rubber products, petroleum products and ceramics, official data showed.

Cumulative exports during January to April 2008 grew 11.3 percent to 2,488 million US dollars.

Expenditure on imports in April increased 37 percent to 1,269 million US dollars. The Central Bank said import expenses on consumer goods such as food expanded significantly in April 2008 owing to increased expenditure on rice and sugar. Import expenditure on intermediate goods which increased 38 percent from a year ago contributed 64 percent to the increase in import expenditure in April 2008. The Central Bank said import expenditure increased owing to high crude oil and fertilizer prices. Imports of investment goods such as transport equipment, machinery and building materials have also recorded a growth of 33.5 percent.

The cumulative expenditure of imports during the first four months of 2008 amounted to US dollars 4,533 million, an increase of 37.4 percent from a year ago.

The Central Bank said higher oil and capital goods imports have widened the trade balance from 394 million US dollars in April 2007 to 659 million US dollars in April 2008.

The overall balance of payments recorded a surplus of 320 million US dollars from January to April 2008 increasing the gross official reserves to 3,383.8 million US dollars by endApril2008, which is sufficient to finance around 3.3 months of imports.

(LBO, June 16,2008)

4.2 Trading partners

Major trading partners;