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Saturday, 07 March 2020 12:33

Philippines expects flat export earnings from garment and textile sector

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Garment manufacturers in the Philippines expect their export earnings to be flat this year. Apparel production has almost halted due to delayed raw material deliveries from China, Korea, Taiwan and other Asian countries. The Philippines has to rely on imports of fabrics, textiles and accessories. Coronavirus (COVID-19) which originated in China has also affected several countries, including Korea, Taiwan and other Asian countries.

The Philippines has prepared a roadmap for the garment and textile industry. The plan covers the period 2020 to 2029. In the short term, the hope is to be among the top 20 garment exporters with an annual growth of 12.3 per cent in garment exports and a three per cent to five per cent increase in textile exports. This will be made possible with the increase in the utilization of natural and synthetic textile fibers by five per cent to ten per cent. In the medium term, the roadmap forecasts the Philippines to improve its world ranking in garment exports into the top 15 largest globally. It is expected to increase its garment exports by 21.7 per cent annually and natural and synthetic textile fiber exports by ten per cent. Infrastructure gaps and logistical bottlenecks will be addressed.