CURRENT MARKET SITUATION: Part I
a. Definition of the Textile Industry
Textile came from the Latin word, texere, meaning “to weave”. It is usually connoted to fabrics that are woven. However, these now include natural and synthetic filaments, yarns and threads, woven, knitted, felted, tufted, braided, bonded, knotted and embroidered fabrics made from the said materials. Textiles also include non-woven fabrics that are produced mechanically or by chemically bonding fibers.
Textiles are used as raw materials or the first steps taken in order to produce commodities such as clothing. Although textiles are a basic necessity for the development of clothing, they are also used to make household articles, industrial products such as filters for tents, air conditioners, safety helmets and the like. Usually, these are used with plastic coatings that give the product a better performance and lighter weights than metals. Textiles are also used for rugs and carpets, tapestry and other needlework.
Textile industry is often regarded as the most typecast of labor intensive manufacturing industries. To a greater extent, textile manufacturing industry also includes manufacturing of made-up textile articles under its classification. Stuffed articles such as pillows make up the classification of manufacturing of textiles made up of textile articles except wearing apparel according to the Philippine Standard Industry Classification (PSIC) 171.
b. Industry Size in terms of Peso Value
c. Stage in Industry Life Cycle
Textile industry is experiencing 3 stages in its life cycle. It has considered import substitution for the products most readily manufactured locally, a self-sufficiency in meeting domestic requirements and the promotion of textile. However, with the reduction of tariff rates and the adoption of modernized systems, the textile industry in the Philippines is doing well. The industry is growing because it...
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