THE PHILIPPINES: Textile, Garment Exports Plunge 15 Per Cent
Philippine textile and garment exports plunged 14.9 per cent in the first five months of the year as the industry was hit hard by the slump in US orders, trade figures revealed on Monday.
Figures from the Garment and Textile Exports Board (GTBE) showed that total exports in the January to May period fell to $1.07 billion from $1.25 billion in the year-ago period, with US exports down 18.9 per cent to $778.9 million.
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