Exports of wearables and textile fell 24 percent in the first four months of 2023, with all segments registering a decline due to soft demand globally.
Data from the Confederation of Wearable Exporters of the Philippines showed exports stood at $480.74 mn in the first four months of the year from $633.6 mn in the same period in 2022.
The wearables segment which includes apparel, travel goods like bags, and footwear accounted for bulk of exports at $397.06 mn. This is down 25 percent from $531.76 mn in 2022.
Apparel, the single biggest contributor to exports by product category, registered a 20-percent decrease in shipments to $211 mn from $264.5 mn last year.
The biggest drop was registered by the travel goods category, by 33 percent, with exports down to $157.73 mn from $236.66 mn. Textile exports fell 19 percent to $62.77 mn from $101.55 mn.
Exports of wearables and textile fell 24 percent in the first four months of 2023, with all segments registering a decline due to soft demand globally.
