The import of woven fabrics declined by 25.97 percent in the first seven months of this calendar year, compared to the same period last year, as garment makers have brought down their reliance on imported products because of an increase in local production.
Exports continued their spirited showing into the new fiscal year, bringing home $4.59 billion in July, in what can be viewed as a lone bright spark in the economy that has been dogged by fast depleting reserves, narrow fiscal space and slowing industrial activities.