[In the past five years, China has maintained high-speed growth in Philippine textile exports.]
Release date:[2021/7/28] A total of reading[147]time

With the cooperation between my country and "One Belt" along the country, China has achieved fruitful results in investment trade, personnel flow, technical cooperation. In the past five years, China has maintained high-speed growth in the export of Philippine textiles, and is much higher than the average growth rate in the same period of ASEAN.

Philippine textile and garment industry analysis

The Philippines plans to rank among the top ten costumes from 2026 to 2029. The Philippines 'goal is to achieve 12.3% annually, the Philippines' local fabrics (such as Abaza, Pichna, silk and other fabrics) Utilization, coupled with the promotion of technical expertise, making the industry advantage. According to the information, the 2016 Philippine national fabric and textile imports have reached 1624 billion US dollars, an increase of 30% year-on-year, and the cost of clothing machinery and textile machinery increased by 70% and 34% respectively. In 2017, my country has reached a historic high in the Philippine textile and apparel export, with a total of $ 6.066 billion, ranking second in the ASEAN Ten countries.

The Baclaran Market is located in Palanak, the Greater Metropolis area of Philippines, is located next to the Church of Baclaran. Every Wednesday, about 10,000 people from all walks of life gathered in the church to participate in Mass, which is the most lively day of the Baclaran market.

The Baclaran market is a local market, with a long temporary booth, a wide range of things, from fruits to kitchenware, clothes, shoes, packages, accessories, etc. Introduction McSilo, which is a wizard of the local wizard, introduced to Xiaobian, the price of clothing clothing in the market is very close, if you have patience, you can get a lot of baby. However, the traffic here is also very large, especially on Wednesday and weekends, people are surging. But if you enjoy this trouble, then you will fall here.

In recent years, the political mutual trust in Philippine has been continuously deepened. The strategic leadership of the two states on bilateral relations have been strengthened. All levels have become increasingly frequent. China-Philippine economic and trade cooperation has also achieved long-term development, and the field of cooperation is continuously expanding, and bilateral trade has increased year by year. my country's main export electromechanical, steel, automobile, clothing, plastic, etc., from Philippine main import motor, mechanical parts, fruit nuts, animal and vegetable oil and other products. China is the first major trading partner in the Philippines, the first major import source, the fourth largest exit destination. According to the statistics of Philippines, 2018, the bilateral trade volume reached 30093 billion US dollars, accounting for 17.1%, an increase of 18.1% year-on-year; Philippine imports $ 21.394 billion, a year-on-year increase of 22.99 billion US dollars, year-on-year, year-on-year An increase of 8.5%, Philippine's trade deficit is US $ 12.696 billion.

The Philippines is the only country in the ASEAN, while enjoying the United States and the European Union, this preferential policy allows more than two-thirds of taxes to completely exempt. As a member of ASEAN and WTO, the Philippines has ratified a range of regional free trade agreements to deepen regional economic integration, including China (ACFTA), South Korea (Akfta), Australia - New Zealand (Aanzfta), Japan (Ajcepa) , India (AIFTA) and Europe (EFTA). As a few of the ASEAN, a few countries have not caught in a negative growth in the past year, the status of the Philippines is stable than many other countries. For textile and apparel companies seeking market diversified, the Philippines is a very promising market opportunity.

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