Statistics reveal that in the first quarter of 2007 the gross revenue reached US $454.4 million, representing 9.7 percent drop as compared to the same period of 2006.
Overall imports fell to 114000 tons in 2007 from 134000 tons in the same period last year. This is largely due to the plunge in garment and fuel imports, which dipped 30 percent and 13 percent, respectively.
Garment exports also recorded 19 percent decline to $101.89 million from $125.8 million in the first quarter of 2006.
Garment exports have been slowing down to $650.8 million in 2005 and $486.5 million last year.
In the past five years, exports by the apparel industry last posted an increase in 2004, when it climbed to $826 million from $792.1 million in 2003.
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