The Phillipines' Department of Trade and Industry (DTI) has released the latest statistics and as per latest figures the country’s fashion and garment industry is bouncing back from where it was in the early 2000. This was confirmed by Ponciano C. Manalo, Jr, Uundersecretary of DTI’s trade and investments promotion, while inaugurating the Sikat Pinoy National Fashion Fair in Mandaluyong City.
The five-day fair, that took place from May 21-25 2014, was launched last year as the first national fashion event. This year, it attracted more than 150 exhibitors from 15 regions, showcasing a wide range of apparel, accessories and other products. The country is hoping for the opening of the ASEAN free trade market in 2015 and the competitive position its fashion, textile and garment industry is currently in, aiming to increase its export share. The aim behind this fair was to expose and showcase the ability of Filipino designers, dressmakers and shoemakers to the global market.
In the first quarter of the year (January to March 2014), Philippine apparel and accessories exports reached $433.527 million, an increase of almost 4 per cent compared to $417.008 million in the first quarter of 2013 according to the National Statistics Office. Micro, small, and medium enterprises contribute about 60 per cent of the total exports.