CNMI woes due to problems in garment industry
\nRadio New Zealand International, New Zealand<\/p>\n
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Posted at 02:04 on 18 February, 2014 UTC
\nThe governor\u00e2\u20ac\u2122s office in the Commonwealth of the Northern Marianas says a garment industry in its death throes is the main reason economic indicators in 2014 were down across the board.
\nThe garment industry was the CNMI\u00e2\u20ac\u2122s second major industry, which at one point even surpassed the tourism industry in revenues.
\nThe Governor\u00e2\u20ac\u2122s press secretary, Charles Reyes, has told the Saipan Tribune that previously, the CNMI had two economic legs to stand on – garments and tourism – but now it essentially only has one.<\/p>\n
The Department of Commerce released its 4th Economic Indicator Report last Thursday, and it showed that 2014 was one of the worst years in the history of the islands\u00e2\u20ac\u2122 economy.
\nBusiness gross revenue, for instance, dropped 8.6 percent last year to US$1.67 million from the $1.82 million in the period before.<\/p>\n","protected":false},"excerpt":{"rendered":"
CNMI woes due to problems in garment industry Radio New Zealand International, New Zealand Posted at 02:04 on 18 February, 2014 UTC The governor\u00e2\u20ac\u2122s office in the Commonwealth of the Northern Marianas says a garment industry in its death throes is the main reason economic indicators in 2014 were down across the board. The garment […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"\n