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Garment exports to grow 5 percent in 2026, says FOBAP
Philippine garment exports are projected to grow by 2% to 5% in 2026, with revenues expected to reach $1 billion this year.
This growth is driven by ongoing negotiations to lower US tariffs and the industry's expansion into new international markets.
Advance shipments were made by exporters to mitigate the impact of US tariffs, with the Foreign Buyers Association of the Philippines (FOBAP) actively engaging Washington to reduce the current 19% tariff.
The industry is also diversifying its market reach by targeting the European Union, ASEAN nations, Canada, and Australia.
The government hopes to secure exemptions from US tariffs for the country's garment, travel accessories, and furniture exports.
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