Downtrend in Philippines' garment export continues

22 Sep '15

2 min read

Continuing with the downtrend seen this year, garment exports from Philippines declined 6.1 per cent to $1.023 billion during the first seven months of 2015, compared to $1.089 billion worth of exports made during the corresponding period of last year, according to the government data.

Meanwhile, exports of textiles, including yarn and fabric, fell 13.2 per cent to $123.306 million compared to $142.031 million earned during the same period in 2014, data from the industry and trade statistics department, under the Philippine Statistics Authority showed.

From January to June 2015, for which data is available, Philippines' import of yarn, fabric and made-up articles were valued at $366.496 million, down 3.4 per cent compared to imports of $379.401 million in the corresponding period of the previous year.

Philippine textile and garment exports had registered a sharp 34.5 per cent growth last year. One reason for decline in exports this year is the non-inclusion of textiles and garments in the revised GSP granted by the US to Philippines.

The garment industry was once among the country's largest employers in the Philippines, but it faded in the late 1990s after quotas on textile and clothing trade worldwide were eliminated. (RKS)

Fibre2Fashion News Desk – India

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