Philippine garment exports increase 15.3% in Jan-Nov '14

15 Jan '15

2 min read

The exports of apparel and accessories from Philippines grew by 15.3 per cent to US$ 1.689 billion in the first eleven months of 2014, compared to exports of $1.464 billion made during the corresponding period of 2013, data from the Industry and Trade Statistics Department, under the Philippine Statistics Authority, showed.

In the month of November 2014, articles of garment and clothing accessories earned $132.142 million in export receipts for the Philippines, showing a growth of 23 per cent year-on-year.

From January to November 2014, the Philippines exported textile yarns and fabrics worth $232.196 million, recording a surge of 32.3 per cent over exports of $175.465 million made during the same month in 2013.

Meanwhile, the imports of cotton by the Philippines from January to October 2014, for which the data is available, increased slightly by 1.8 per cent to $18.470 million, as against the imports of $18.136 million made during the first ten months of 2013.

The import of synthetic fibres fell drastically by 31.6 per cent during the ten-month period, compared to imports of $81.726 million in corresponding period of 2013.

On the other hand, the import of textile yarn, fabrics and made-up articles amounted to $609.821 million in January-October 2014, showing a jump of 7.6 per cent over $566.659 million worth of imports registered in same months of 2013.

The import of garments and clothing accessories during the ten-month period also rose by 14.8 per cent to $249.468 million, as the corresponding figure in 2013 was $217.233 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

More Apparel/Garments News - Philippines...