The Exports of Apparel and Clothing Accessories From Philippines Surged by 45.71 Percent

The exports of apparel and clothing accessories from Philippines surged by 45.71 percent year-on-year to US$ 145.445 million in January 2014, according to the data released by the Philippines Statistics Authority (PSA).   The share of garments and accessories in the Philippines’ overall exports also increased to 3.32 percent in January 2014, compared to the share of 2.61 percent in December 2013 and 2.49 percent in January 2013, the data showed.   During the month, Philippines also exported yarns and fabric worth $14.206 million, registering a 15.33 percent growth over exports of $12.317 million made in the corresponding month of last year. However, on a month-on-month basis, January 2014 yarns and fabric exports were 33.16 percent higher than the December 2013 exports of $10.668 million.   Last year, the Philippines exported apparel and clothing accessories worth $1.562 billion, registering a decline of 0.66 percent, as against exports of $1.572 billion made in 2012.   In 2013, Philippine textile yarns and fabric exports grew by 0.75 percent to $171.633 million, compared to $170.353 million earned in 2012.   From January to December 2013, the Philippines’ textile yarn, fabric and made-up articles imports stood at $695.404 million, recording a 9.1 percent growth over imports of $637.393 million made in the corresponding period of 2012.