The Philippines is an Asian economy with 104 million population domestic market and good export potential. In 1980s, Philippines ranked top 6 exporters of apparel to the United States during the quota ages. In 2015, Philippines still had 137,000 textiles and 422,000 garment company workers. Efforts have been made to increase exports to the USA. Philippine Department of Trade and Industry (DTI) is targeting US$1 billion in incremental investments, US$3 billion in apparel exports and 600,000 jobs.
The country is projected to be the fastest-expanding major ASEAN economy over the next 5 years. As one of the few ASEAN countries that have not plunged into negative growth in the past year, the Philippines has a stronger standing than many of its peers. For companies in search of market diversification, Philippines is a very promising market opportunity!
Philippines Garment Industry & Fabric Expo will be held on 5-8 December, 2019 at SMX, Manila, Philippines.