During his visit to the Philippines, the UK’s foreign secretary James Cleverly met with President Ferdinand Marcos Jr and foreign secretary Enrique Manalo and discussed how to further strengthen the UK-Philippines Enhanced Partnership.
The Philippines is a textile-exporting country, while the United Kingdom has a vast consumer market. The former country can expand its apparel and home textile exports to the UK as it has minimal presence in the developed market. The UK imported apparel worth $8.356 billion during the first five months of 2023. However, the import from the Philippines was valued at just $19.908 million, which was 0.24 per cent of the total, according to Fibre2Fashion’s market insight tool TexPro. The Philippines did not find itself among the top 10 apparel suppliers for the UK.
Similarly, the Philippines has a share of just 0.11 per cent in total imports of home textiles, amounting to $1.252 billion, from January to May 2023. The imports from the Philippines were valued at $1.434 million in the same period.
The Philippines exported apparel worth $3.495 million during the first five months of 2023, which was just 3.77 per cent of its total shipment of $92.686 million in that period. Although the UK was the fifth-largest market for the Philippines, according to TexPro.
The UK was the ninth-largest market for home textile exports from the Philippines. The UK had a share of 2.89 per cent ($0.765 million) out of the total shipment of $26.483 million during January to May 2023.
ALCHEMPro News Desk (KUL)
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