The exports of apparel and accessories from Philippines grew by 4.57 percent to US$ 741.146 million in the first five months of 2014, compared to exports of $708.734 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 May 2014, articles of garment and clothing accessories earned $143.75 million in export receipts for the Philippines, growing at 6.31 percent year-on-year.
From January to May 2014, the Philippines exported textile yarns and fabrics worth $98.777 million, recording an increase of 26.93 percent over exports of $77.822 million made during the same period in 2013.
Meanwhile, the imports of cotton by the Philippines from January to April 2014, for which the data is available, dropped by a sharp 55.83 percent to $3.351 million, as against the imports of $7.587 million made during the first four months of last year.
However, the import of synthetic fibres increased by 14.82 percent to $23.935 million during the four-month period, compared to imports of $20.845 million in corresponding period of 2013.
Like-wise, the import of textile yarn, fabrics and made-up articles amounted to $242.662 million in January-April 2014, showing a jump of 9.48 percent over $221.641 million registered in same months of the previous year.
The import of garments and clothing accessories during the four-month period also rose by 10.86 percent to $99.539 million, while the corresponding figure in 2013 was $89.79 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.