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Tuesday, 15 March 2022 13:29

Philippines garment and textile exports to reach $1.5 billion in 2022: FBAOP

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Philippines’ garments, textile and apparel exports are expected to be worth $1.5 billion in 2022 up from $1.052 billion in 2021 despite lingering pandemic and Russia-Ukraine war. According to the Foreign Buyers Association of the Philippines (FBAOP, local players continued to receive orders, which other countries such as Vietnam, China, India and Bangladesh could not serve because of minimum volume requirement.

Robert Young, President, FOBAP and Trustee, Philippine Exporters Confederation says, the industry should protect its track record of being the second largest exporter of garments and textile in Asia despite supply chain problems. In 2021, shipments including the $200 million worth of finished goods remained in ports due to supply chain issues, says Young. FOBAP hopes the next government would implement a comprehensive, doable and sustainable roadmap to boost the textile and apparel industry. He urged the government to revive the nuclear power plant to resolve power cost, energy issues and reexamine workers’ wages.