Philippines textiles exports hit record $368 M in FY22

 

Over the years, the Philippines apparel and clothing sector has seen an upward trend. In 2022, the Philippines made a significant amount of growth in the apparel and textile sector. According to the Philippines customs data records, the textile and apparel industry exports were worth around 1.14 billion dollars during the fiscal year 2022. In which, the apparel exports are estimated around 369 million dollars.

The United States was among the top markets for apparel exports with over 55% share of Philippines apparel exports. The United States had apparel exports worth around 208 million dollars during FY22. The other leading markets for Philippines apparel exports were South Korea, Canada, Japan, and Italy. 

As per Philippines export data reports, the top textile export companies from Philippines were International Ying Ming, Graphica Enterprise, Skylark Garments, DM Garments and Qualitex Garments.

As per the Philippines import export data of textiles and clothing, the United States held the majority share of over 54%. Around 620 million dollars of textiles and clothing materials were imported from the Philippines to the United States. Japan, South Korea, China, and Italy were among leading importers of textiles after the United States.

On the other hand, Philippines textiles and clothing imports during 2022 were estimated to be around 2.2 billion dollars. According to the Philippines import data reports, China leads the export market for Philippines textile imports.

During the fiscal year 2022, textiles imports from China were estimated to be around 958 million dollars. South Korea was the second largest clothing exporter to the Philippines with an export share of over 9%. Taiwan, Japan, and Vietnam were among the other major markets for Philippines textile imports during the financial year 2022.

During this year, Philippines garments exports are growing significantly. The Philippines is currently receiving good orders from the United States, Japan and Australia. In 2022, Australia textiles imports from the Philippines were 20% up.

According to the import export data worldwide, Textile exports to Australia stood at 7 million dollars. Being the leading cotton exporter, Australia did 10 million dollars cotton exports to the Philippines in the financial year 2022.

While Japan's textile imports from the Philippines were estimated to be around 6.5 million dollars during 2022. Recently, the Konoike Group from the Philippines has joined hands with Japan's top shirt brand, "Flex Japan Inc" to export garments from the Philippines.

One of the reasons behind Philippines success in the garment industry is low prices and quality materials. Philippines textile imports will continue to boom during the financial year 2023 also.

The best thing that Philippines garments importers and exporters can do is to utilize the best market research platform, Exim GTIS. It is a very cost effective tool through which garment exporters from the Philippines can gain insights into the global garments market.

Not only China, USA, Japan, it has over 200+ countries Global export import data records with proper metrics and performance indicators. Philippines companies can easily identify the global garments demand, pricing strategy, top garments importer and exporters. It will help them to make profitable business decisions and drive more sales for their business.

It can turn your garments company into a leading clothing brand in the global market.