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RCEP tariff may boost textile exports from Philippines to China

Trade data indicates that China is a net exporter of textile products such as garments, fabrics, yarn, and fibre. In bilateral trade with the Philippines, China exports garments and other textile products in larger quantities and values compared to its imports of these products. 

China exported apparel worth $***.*** million to the Philippines during the first quarter of the current year, compared to $***.*** million in the first quarter of the previous year. The trade was noted at $***.*** million in the last quarter of **** and peaked at $***.*** million in the second quarter of the same year, remaining relatively stable in the subsequent quarters. However, there has been a significant decline in trade during the first quarter of the current year. The annual shipment was recorded at $*.*** billion in ****, $*.*** billion in ****, $*.*** billion in ****, $*.*** billion in ****, and $*.*** billion in ****, according to *f_homepage_tpblock&utm_medium=logo&utm_campaign=texpro_****" target="_blank">Fibre2Fashion’s market insight tool TexPro.