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Philippine apparel exports increase in Jan-April'14

July 08, 2014 (Philippines)

The exports of apparel and accessories from Philippines grew by 4.16 percent to US$ 597.372 million in the first four months of 2014, compared to exports of $573.520 million made during the corresponding period of last year, data from the National Statistics Office, under the Philippine Statistics Authority, showed.
In the month of April 2014, articles of apparel and clothing accessories earned $163.71 million in export receipts for the Philippines, growing at 4.02 percent year-on-year. During the month, garments and accessories were the sixth-largest foreign exchange earner for the Philippines.
From January to April 2014, the Philippines exported textile yarns and fabrics worth $78.422 million, recording an increase of 27.35 percent over exports of $61.582 million made during the same period in 2013.
Meanwhile, the imports of cotton by the Philippines from January to March 2014, for which the data is available, dropped by a sharp 68.5 percent to $2.031 million, as against the imports of $6.448 million made during the first three months of last year.
However, the import of synthetic fibres shot up by 27.07 percent to $18.894 million during the three-month period, compared to imports of $14.87 million in corresponding period of 2013.
Like-wise, the import of textile yarn, fabrics and made-up articles amounted to $176.353 million in January-March 2014, showing a jump of 9.82 percent over $160.59 million registered in same months of the previous year.
The import of garments and clothing accessories during the three-month period also rose by 15.06 percent to $77.403 million, while the corresponding figure in 2013 was $67.271 million.
In 2013, Philippine apparel and clothing accessories exports declined by 0.66 percent year-on-year to $1.562 billion, while its textile yarn and fabric exports grew by 0.75 percent to $171.633 million. During the year, imports of textile yarn, fabric and made-up articles increased by 9.1 percent to $695.404 million.

Fibre2fashion News Desk - India
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