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Philippines achieves $2bn garment export target in 2012
25 Jan '13
1 min read
Garment exports from Philippines have registered a five percent year-on-year growth and achieved the Government set target of US$ 2 billion in 2012, the Department of Trade and Industry has said.
There has been a steady growth in apparel exports from Philippines during the past few years, and exports grew from US$ 1.7 billion in 2010 to US$ 1.89 billion in 2011, the Department noted.
The rise in clothing exports from Philippines is mainly stirred by the entry of Chinese producers, who are ardently eyeing the Philippine garment sector, Trade Undersecretary Cristino Panlilio said.
Addressing media persons, Mr. Panlilio said many Chinese garment firms are investing in Philippines and are stirring the country’s garment exports.
Philippines apparel exports are expected to further get a boost once the Save Our Industries Act (SAVE Act) is passed by the US Government. The act would give preferential access for garments made in Philippines from American textiles, in the US market. The proposed legislation is expected to allow Philippines garment sector to generate US$ 3 billion worth of exports, with enhanced employment generation.
Fibre2fashion News Desk - India
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