Exports of Haitian apparel to the United States under EIAP have increased substantially since we last reported in 2011.
Although only three account holders are actively earning credits and two have begun to use them, in the 12-month period ending November 19, 2012, the number of credits OTEXA issued increased to about 42 million SMEs from approximately 8 million SMEs during the same period 1 year earlier.
Similarly, over this period, the number of credits redeemed, or used by account holders increased to about 25 million SMEs from approximately million SMEs in 2011. In addition, exports of Haitian apparel to the United States under EIAP have grown faster than non-EIAP exports.
Last year, we reported that about $350,000 in Haitian apparel had been exported to the United States under EIAP from January through August of 2011--about 0.07 percent of all Haitian apparel exported to the United States during that period.
In contrast, from January through August of 2012, nearly $18 million in Haitian apparel was exported under EIAP--about 4 percent of Haitian apparel exported to the United States during this period.
Increased use of the program may be due to the growing awareness of companies already producing apparel in Haiti that their ongoing trade activities may qualify for additional benefits under EIAP.
