Home / Knowledge / News / Textiles / Philippine textile & garment exports cross $2bn in 2014
Philippine textile & garment exports cross $2bn in 2014
13
Feb '15
The exports of textiles and apparel from Philippines crossed US$ 2 billion mark last year, according to the data from the industry and trade statistics department, under the Philippine Statistics Authority.
 
Philippines earned US$ 2.095 billion through exports of yarn, fabric and apparel in 2014. Of this, yarn and fabric exports shot up by 34.5 per cent year-on-year to $252.679 million, while clothing exports increased at 16.6 per cent to $1.843 billion, the data showed.
 
Philippine textile and apparel exports grew at a higher rate compared to the nine per cent growth registered in total exports by the country during the year.
 
Philippine textile and clothing exports picked up in December 2014. While exports of textile yarns and fabrics surged by 64.3 per cent year-on-year to $20.448 million during the month, garment exports rose by a sharp 33.8 per cent to $154.881 million.
 
Apparel exports from Philippines are likely to further increase as the European Union granted its Generalised System of Preferences Plus (GSP+) status to the country beginning this year. The GSP+ brings tariffs down to 0% for around two-thirds of tariff lines, including garments.
 
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. Even after the GSP+, Philippines is not likely to reach 1990s levels because of intense competition from countries like China and Vietnam, according to industry analysts. (RKS)
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 25th Apr 2017

Greater Manchester is high on its textiles industry

Greater Manchester is witnessing a boom in textiles industry with 77...

Apparel/Garments | On 25th Apr 2017

Foreign buyers paying less for green factory apparel

International buyers are not paying enough for apparel and garments...

Courtesy: Reliance Industries

Textiles | On 24th Apr 2017

Reliance’s FY17 revenue from petrochemicals up 12.2%

Increase in prices across polymers and polyester chain has...

Interviews View All

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search