Garments, textile exports up 6% to $2.542B

The country’s garments and textile exports posted a growth of six percent to $2.542 billion in 2005 from $2.409 billion in 2004, the Garments and Textile Export Board (GTEB) said.

Garments and textile exports to the United States, however, posted a slight decline of one percent from $1.938 billion in 2004 to $1.920 billion last year. Exports to the US comprise the bulk or 76 percent of the Philippines’ garments and textile exports.

Canada mirrored a similar decline with total garments and textile exports last year amounting to $79.926 million, a drop of one percent compared to total exports of $80.814 million for the whole of 2004. Exports to Canada account for only three percent of total Philippine exports.

However, the one percent decline in garments and textile export to the US and Canada was offset by an increase in exports to the European Union and other countries, the GTEB noted.

Total garments and textile exports to the European Union increased 39 percent from $207.97 million in 2004 to $288.785 million last year. The EU accounts for 11 percent of total exports.

Similarly, garments and textile export to other countries also posted a 39 percent growth from $182.364 million in 2004 to $252.722 million. Exports to other countries account for 10 percent of total exports.

A further breakdown of garments and textile exports to the US showed that exports of apparel products last year actually posted a three percent growth amounting to $1.830 billion as compared to the apparel exports in 2004 amounting to $1.785 billion.

However, the overall drop in exports to the US was accounted for by the substantial 41 percent drop in exports of non-apparel products to $90.577 million in 2005 from the much higher exports of $152.521 million in 2004.