According to Fibre2Fashion's market insight tool TexPro, the Philippines imported apparel worth $24.535 million in the first ten months of 2024. This was 66.44 per cent lower than the imports of $73.108 million during the corresponding period of 2023. The imports totalled $96.991 million in 2023. Vietnam was the second-largest supplier of apparel imports to the Philippines, with a share of 12.49 per cent of the Philippines' total imports of $196.435 million during January-October 2024.
The country’s imports of home textiles from Vietnam were valued at $22.496 million in the first ten months of 2024. This was 16.96 per cent higher than the imports of $19.233 million during the same period of 2023. The Philippines' imports of home textiles from Vietnam totalled $23.100 million in 2023.
Vietnam was ranked as the second-largest supplier of home textile imports to the country. Vietnam’s share was 11.81 per cent of the total imports of home textiles, amounting to $190.626 million in January-October 2024.
Fabric imports by the Philippines totalled $335.581 million in the first three quarters of 2024. Of this, imports from Vietnam were noted at $13.512 million, which accounted for 3.80 per cent of the total fabric imports during the period. Vietnam was the fourth-largest supplier for the trade, according to TexPro.
The Philippines’ fabric imports from Vietnam eased by 3.29 per cent in January-September 2024 compared to imports of $13.973 million during the same period in 2023. The country’s imports from Vietnam were noted at $18.870 million in 2023.
ALCHEMPro News Desk (KUL)
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