Local furniture industry seen to grow 10%
MANILA, Philippines - The local furniture industry is projected to grow by 10 percent this year, largely driven by strong demand expected from both local and export markets.
Philippine Exporters Confederation, Inc. trustee for the furniture sector Myrna Bituin said in a statement there is room for the industry to grow as furniture makers can serve the strong demand from the domestic market.
“The local market buys billions of pesos (worth) of furniture overseas... Majority of companies that do researches, are open to the market, invest in design and in their people, (and) they have always survived,†she said.
Bituin said there are already some local companies which focus on the domestic market, particularly on hotels and resorts.
“You save on your freight cost and you are here... serving your country. For those who are mechanized, for those who know about design, they can serve the local market,†she said.
She noted that the export market is still growing despite the slowdown in demand from the US.
She said the Middle East is one of the growing markets for the local wood sector.
In Japan, there is strong demand for prefabricated housing components.
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