19 Sep 2012

CNMI economy grew in 2010

8:55 am on 19 September 2012

After declining for six consecutive years largely due to declines in the garment manufacturing industry, the Northern Marianas economy grew in 2010.

The CNMI's real gross domestic product or GDP-adjusted to remove price changes-increased by 2.3 percent compared to the revised 18.8-percent decrease just a year ago.

This is based on a report by the US Department of Commerce's Bureau of Economic Analysis.

The Bureau's report calculated that GDP in the CNMI was 619 million US dollars in 2010, up 2.3 percent from 605 million in 2009.

The significant declines in manufacturing from 2005 to 2009 reflected the decline of the garment manufacturing industry.