The Garments and Textile Export Board (GTEB) yesterday reported that total exports of garments and textiles from January to July this year amounted to only P1.794 billion, a 3.4 percent drop from the P1.856 billion posted from January to July 2000.
"It cannot be denied that our garments and textiles exports are also reeling from the global economic slump, but the determination of Filipino manufacturers to open up new markets is also bearing fruit," Trade and Industry Secretary Manuel Roxas II said.
However, Roxas said local garment exporters are conquering new markets.
Roxas rationalized that "2000 was an unusually good year."
He said that if the first seven months of the year is compared to the first seven months of 1999, Philippine garments and textile exports are up.
In fact, he said, for the past five years, 2000 was a very good year.
The GTEB reported that 32 non-quota countries are buying more Philippine textiles and garments with the volume accounting for 37.61 percent of the non-quota export receipts that totaled P196.049 million.
Roxas noted that "while this is only about 11 percent of the sector’s export volume, it is a silver lining that identifies the continuing potential for growth of Philippine garments and textiles exports which is our second biggest dollar earner, next to electronics."
Based on the GTEB figures, garments and textiles exports to Canada from January to July this year totaled P41.931 million, up 13.45 percent, compared to last year’s figure of P36.959 million.
The robust exports to Canada helped to make up for the 16.3 percent reduction in our garments and textile sales to the United States and the European Union and the overall 8.37 percent drop in exports to non-quota countries.