Garment exports advance 11.6%

The country's exports of garments and textiles grew 11.62 percent to $963.48 million in the first four months this year, from $863.186 million in the same period last year.

Data from the Garments and Textiles Export Board (GTEB) show that total exports to quota countries increased by 14.42 percent from $752.623 million to $846.092 million while exports to non-quota countries increased at a slower pace of 6.17 percent from $110.562 million to $117.388 million.

According to GTEB, the share of non-quota countries declined from 12.81 percent of total exports in 1999 to 12.18 percent this year while exports to quota countries had a share of 87.82 percent, up from 87.19 percent over the same period.

The US remained the country's biggest market, importing $721.183-million worth of garments and textiles, up by 11.29 percent from $648.049 million. This accounted for 14.85 percent of the country's exports, followed by the European Community which accounted for 11.26 percent, equivalent to $108.455-million worth of garment products.

Exports to quota countries increased as the industry scampered to take advantage of the final years of the garments quota. On the other hand, GTEB data indicate that Philippine exports to its traditional markets in non-quota countries declined over the four-month period.

Exports to Japan, the biggest non-quota country destination for Philippine garments and textile products, declined by 4.87 percent from $44.003 million to $41.857 million and accounted for 36.06 percent of total exports to non-quota countries.

The garments industry has been under pressure to start making adjustments for when quota countries phase out their systems by 2004 in compliance with the agreements of the World Trade Organization (WTO).