11.   But Washington asked for drastic cuts in tariffs and elimination of invisible trade barriers.

12.   It said the visible trade deficit has been narrowing, and was offset by sustained healthy increase in the invisible trade surplus.

13.   The bank said the widening deficit reflected sharp drops in exports of heavy industrial products and chemicals as well as a persistent invisible trade deficit.

14.   The bank said the invisible trade deficit had been widening due to the growth in foreign investment and interest income, as well as an increasing travel account deficit.

15.   The bank said the invisible trade deficit has been widening due to the growth in foreign investment and interest income, as well as an increasing travel account deficit.