The Department of Trade and Industry in the Philippines is to lower its export targets, due to a decline in garment and textile exports.
 
Analysts, although predicting an upturn in the market at the end of the year, said that for the first part of the year exports have been slow.
 
Garment and textile exports for the first four months increased by just 2.02 per cent, according to latest figures. The fall is due to a decline in orders from both America and European countries.  
 
The Garment and Textile Export Board says the decline can be partly attributed to the US economic slowdown and the US dollar.
 
Big traditional retailers in Europe such as Marks & Spencer and C&A , who buy substantially from the Philippines, have also downsized.
 
On the positive side, garment and textile exports to Canada increased by 17.49 per cent.