The Department of Commerce corrected on Wednesday its computation of garment sales in 2005, saying that its decline was only 21 percent, not 39.4 percent as it had earlier reported.<\/p>\n
Commerce Secretary James Santos admitted that the department made an error when compiling the figures for the quarterly economic indicators on garment sales.<\/p>\n
Commerce had said in its latest report that garment sale value for calendar year 2005 plunged to $500.8 million or 39.4 percent from the previous year\u2019s $826 million.<\/p>\n
\u201cIt\u2019s an error. We forgot to add one quarter. The correct amount is $650.8 million, which reflects a 21-percent decline, not 39 percent,\u201d said Santos in an interview.<\/p>\n
He said that Governor\u2019s special assistant for trade relations Richard A. Pierce also called him up, pointing out the discrepancy in the computation.<\/p>\n
Santos said that based on Department of Finance data, garment exports value totaled $151.9 million in the fourth quarter of 2005; $165.1 million, third quarter; $156.2 million, second quarter; and $177.6 million, first quarter 2005.<\/p>\n
Garment sale totaled $826 million in 2004, $792.1 million in 2003, and $831.3 million in 2002.<\/p>\n
The drop in sales last year also meant a drop in government user fee collection.<\/p>\n
The government collects 3.7 percent user fee on all locally manufactured and finished apparel products.<\/p>\n
Finance earlier reported that it collected $126 million in user fee for fiscal year 2005, which is $4 million lower than the annual average collection prior to the 2005 World Trade Organization\u2019s lifting of quotas in January 2005. <\/p>\n","protected":false},"excerpt":{"rendered":"
The Department of Commerce corrected on Wednesday its computation of garment sales in 2005, saying that its decline was only 21 percent, not 39.4 percent as it had earlier reported.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-98236","post","type-post","status-publish","format-standard","hentry","category-local-news"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/98236","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=98236"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/98236\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=98236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=98236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=98236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}