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Philippines wearable industry expects 20% export growth

Aug '18
The combined export growth of textile, garments and other wearable industries in the Philippines is projected to rise by 20 per cent this year to $1.22 billion from $1.02 billion in 2017. The Confederation of Wearables Exporters of the Philippines (CONWEP) expects a surge in wearable exports, dominated by China now, as the US-China trade war would likely escalate.

China’s difficulty in penetrating the US market now may prove beneficial for other trading partners of the United States like the Philippines, said CONWEP executive director Maritess Agoncillo.

Several garment manufacturers are preparing to close business in China, with plans to set up manufacturing bases in the Philippines, a Manila-based daily quoted her as saying.

Philippine labour is equally competitive and the country has moved on from producing cheap, colourless shirts to better-quality products, she said.

Wearable exports from the Philippines hit $2.9 to $3 billion in 2005, before it gradually declined to a third of its value over the succeeding years.

Other industry groups, such as the Textile Producers Association of the Philippines, Marikina Shoe Industry Development Office and the Garment Manufacturers Association of the Philippines, are also proactively promoting the Philippines as a safe and secure destination for manufacturing industries, she said.

These groups are supporting an upcoming promotional event called the 1st Philippine Garment, Leather Goods Industries and Fabric Expo from August 23 to 26 in Pasay City. (DS)

Fibre2Fashion News Desk – India

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