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Philippine garment exports increase 14.7% in Jan-Oct '14
19
Dec '14
The exports of apparel and accessories from Philippines grew by 14.7 per cent to US$ 1.557 billion in the first ten months of 2014, compared to exports of $1.357 billion made during the corresponding period of last year, data from the Industry and Trade Statistics Department, under the Philippine Statistics Authority, showed.
 
In the month of October 2014, articles of garment and clothing accessories earned $149.973 million in export receipts for the Philippines, showing a drop of 7.5 per cent year-on-year.
 
From January to October 2014, the Philippines exported textile yarns and fabrics worth $212.595 million, recording a surge of 31 per cent over exports of $162.313 million made during the same period in 2013.
 
Meanwhile, the imports of cotton by the Philippines from January to September 2014, for which the data is available, dropped slightly by 0.3 per cent to $16.299 million, as against the imports of $16.345 million made during the first nine months of last year.
 
The import of synthetic fibres fell drastically by 29.7 per cent during the nine-month period, compared to imports of $70.635 million in corresponding period of 2013.
 
On the other hand, the import of textile yarn, fabrics and made-up articles amounted to $542.185 million in January-September 2014, showing a jump of 5 per cent over $516.302 million worth of imports registered in same months of the previous year.
 
The import of garments and clothing accessories during the nine-month period also rose by 12.9 per cent to $222.659 million, as the corresponding figure in 2013 was $197.271 million.
 
In 2013, Philippine apparel and clothing accessories exports declined by 0.66 per cent year-on-year to $1.562 billion, while its textile yarn and fabric exports grew by 0.75 per cent to $171.633 million. During the year, imports of textile yarn, fabric and made-up articles increased by 9.1 per cent to $695.404 million. (RKS)
 

Fibre2fashion News Desk - India


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