Garments Export Up By 2

GARMENTS EXPORT UP BY 2.78% IN MAY

Strong apparel demand and rapid sales by branded products boosted the garments and textile exports by 2.78% in May. According to Garments and Textile Export Board (GTEB) Executive Director Serafin Juliano, the natural movements of the country’s major markets with respect to product category and consumer demand are the fundamental drivers of May’s exports. “Branded products worldwide experience rapid sales as the summer season ends. Since the growing portfolio of our customer base are global brands, this increased Philippine garments export,” Juliano said. GTEB figures showed that garments and textile sales amounted to $231 million against May last year’s $224 million. May sales cover garments and apparel products for the late summer/early fall styles. Apparel sales amounted to $201 million, an increase of 2.58% against May last year’s $197 million. Textile exports likewise surged as it ended higher by 12.37%, from $10 million last year to the current $11.3 million. Non-apparel items, on the other hand, slightly dropped by 0.37%. Exports to the European Union, which account for nearly 20% of total exports, surged by 32.61% amounting to $45.1 million. With EU’s fivemonth steady growth, year-to-date figures stand at $180 million, a 27.17% increase from last year’s $142 million. Germany, Italy, Austria, Portugal and the Benelux countries, which make up nearly 60% of the European sales, are the biggest gainers, contributing incremental sales of $10 million. Juliano noted that business development initiatives in Europe is key to May performance consistent with the product diversification and market expansion strategies of the garments industry’s transformation plan. Meanwhile, sales to the United States, the Philippines’ biggest market, was $155 million. Receipts from Canada and non-quota countries also increased by 0.28% and 3.06% respectively.

Shipments to non-quota countries, on the other hand, were $24.8 million against prior year’s May earnings of $24.1 million. Japan, Hong Kong, and United Arab Emirates remain the country’s biggest nonquota trading partners. Garments export up by 2.78% in May Strong apparel demand and rapid sales by branded products boosted the garments and textile exports by 2.78% in May. According to Garments and Textile Export Board (GTEB) Executive Director Serafin Juliano, the natural movements of the country’s major markets with respect to product category and consumer demand are the fundamental drivers of May’s exports. “Branded products worldwide experience rapid sales as the summer season ends. Since the growing portfolio of our customer base are global brands, this increased Philippine garments export,” Juliano said. GTEB figures showed that garments and textile sales amounted to $231 million against May last year’s $224 million. May sales cover garments and apparel products for the late summer/early fall styles. Apparel sales amounted to $201 million, an increase of 2.58% against May last year’s $197 million. Textile exports likewise surged as it ended higher by 12.37%, from $10 million last year to the current $11.3 million. Non-apparel items, on the other hand, slightly dropped by 0.37%. Exports to the European Union, which account for nearly 20% of total exports, surged by 32.61% amounting to $45.1 million. With EU’s fivemonth steady growth, year-to-date figures stand at $180 million, a 27.17% increase from last year’s $142 million. Germany, Italy, Austria, Portugal and the Benelux countries, which make up nearly 60% of the European sales, are the biggest gainers, contributing incremental sales of $10 million. Juliano noted that business development initiatives in Europe is key to May performance consistent with the product diversification and market expansion strategies of the garments industry’s transformation plan. Meanwhile, sales to the United States, the Philippines’ biggest market, was $155 million.

Receipts from Canada and non-quota countries also increased by 0.28% and 3.06% respectively. Shipments to non-quota countries, on the other hand, were $24.8 million against prior year’s May earnings of $24.1 million. Japan, Hong Kong, and United Arab Emirates remain the country’s biggest nonquota trading partners.

Garments and Textile Export Board. (June 9, 2004).Garments Export up by 2. 78% in May. Retrieved July 21, 2005 from the World Wide Web: http://www.gteb.gov.ph/news/04/may_fob.htm