Ang abaka na sinasabing the fiber that made the Philippines known all over the world ay malaking pagkakakitaan ng bansa. Tinatayang 96.7 porsiyento ng total export earning mula sa abaka ay umaabot sa 68.582 dolyares noong nakaraang taon. Pinakamaraming export ay ang Barong Tagalog, buntal, at lubid. Ayon sa Fiber Industry Development Authority (FIDA), ‘‘abaca fiber has traditionally been used for condage due to its durability, high strength and resistance to salt-water decomposition considered the strongest of natural fibers, it is three times stronger than cotton. The cottage industry makes abaka into footwear, placemats, doormats, curtains, wall overlap and decors, coasters, bags, rugs and many other useful items.’’
Ang Eastern Visayas ang top-abaca-producing region sa bansa. Ang iba pang abaca-producing na lalawigan ay ang Agusan del Sur, Leyte, Catanduanes, Camarines Sur, Sorsogon, Samar, Bukidnon, Davao at Sulu.
Ayon sa Food and Agriculture Organization, ang mga major consumers ng abaca from the Philippines ay ang America, Japan, South Korea, France at United Kingdom.