Garment sale figures revised downward to 21% instead of 39.4%

24 Feb '06

2 min read

The Department of Commerce presented the corrected garment sales figures for 2005 informing that the decline in garment sales was 21 percent, instead of 39.4 percent as stated earlier, said Commerce Secretary James Santos.

It was earlier stated that garment sale for 2005 dipped to $500.8 million compared to previous year's $826 million, registering a decline of 39.4 percent.

The corrected figures state that the decline was $650.8 million and not $500.8 million as results of one quarter was not included, and this constitutes a decline of 21 percent and not 39.4 percent, informed Santos.

Garment exports in the fourth quarter of 2005 totaled $151.9 million, with first , second and third quarter sales amounting to $177.6million, $156.2 million and $165.1 million in 2005 respectively, said Santos.

Value of garment sale in 2004 totaled $826 million, in 2003 it was $792.1 million and was $831.3 million, in 2002.

Drop in sales last year meant that Government revenues or collection fees also dropped.

A fee of 3.7 percent is levied on locally manufactured apparel products by the Government.

User fee collection of $126 million was achieved for fiscal year 2005, which was $4 million lower than annual average collection before lifting of quota system in January 2005.