Garment

Garment/textile exports shrink 3.65% to $2.7 billion in 2003 By BERNIE CAHILES-MAGKILAT Garments and textile exports continued to slow down posting a 3.65 percent decline in 2003 to only $2.733 billion from $2.836 billion in 2002 as all major markets except the European Union posted negative growths, data from the Garments and Textile Exports Board showed. Of the total exports, the quota countries contributed $2.409 billion or 3.81 percent down from $2.505 billion in 2002. Exports to non-quota countries was also down by 2.39 percent to $323.36 million from $331.263 million in the January-December period in 2002. The U.S., a quota country and the biggest export destination of Philippine garments and textiles, posted a significant decline of 5.39 percent with purchases reaching only $1.983 billion as against $2.096 billion in 2002. The EU, also a quota market, was the lone bright spot with 6.34 percent improvement to $359.322 million from $337.906 million in the previous year. Canada, another quota country, was down by 5.68 percent to $70.512 million from $66.507 million in the same period of 2002. The full-year export performance of the industry could have been pulled down by the steep decline in the December exports which posted a 9.38 percent decrease. The December data showed the country’s major markets posting significant declines thus the month’s total exports performance reached only $214.196 million as against $236.378 million in December 2002. Of the total December exports, the quota countries imported only a total of $189.743 million or an 11.57 percent decline compared to $214.578 million worth of exports in December 2002. Exports to non-quota countries was also down by 12.17 percent to only $24.453 million from $21.799 million in December 2002. The decline in the U.S. market was more significant in December than its entire 2003 performance. Exports to U.S. last December was down by 15.51 percent to $150.938 million from $178.646 million in December 2002.

Exports to EC was, however, up by 10.55 percent to $33.911 million from $30.674 million in December 2002. But exports to Canada was also down in December by 6.02 percent with purchases reaching only $4.893 million from $5.257 million in December last year. Cahiles- Magkilat, Bernie. (2001). Garment/textile exports shrink 3.65% to $2.7 billion in 2003. The Manila Bulletin. Retrieved August 8, 2005 from the World Wide Web: http://www.mb.com.ph/issues/2004/02/05/BSNS200402051348.html