Garment, textile, and apparel exports are projected to rise 2% to $1.33 billion by mid-2024, according to the Foreign Buyers Association of the Philippines (FOBAP).
Amid challenges from global conflicts, FOBAP explores new markets in South America and the Middle East.
FOBAP eyes increased demand for basic wearables and high-end garments.
The 2% growth relies on government initiatives, including more free trade agreements and addressing high power costs.
Extension of the EU's Generalized Scheme of Preferences Plus (GSP+) is expected to bolster revenues for the sector.
