Exporters Expo rake in P3.8M in sales

CEBU, Philippines - Cebu-based exporters generated a total sales of P3.8 million from the four-day Exporters’ Expo held recently at the SM City Cebu, indicating the robust local market amid the weak global consumers’ interest.

“The event was a success since it allowed exporters to dispose of their inventories after the United States recession softened the demand for Philippine-made products,” said Department of Trade and Industry (DTI-7) regional director Aster Caberte.

The P3.8 million total sales generation of the event, included the cash sales amounting to P2.03 million and booked orders of P1.55 million. Transactions that are still under negotiation reached P235,390, she said.

A total of 73 exporters from furniture sector, home furnishings, fashion accessories, and exporters of marine products, participated the Exporters Expo, which aimed at helping exporters dispose their inventories, due to the slack global demand.

DTI spent about P1.3 million on the Exporters Expo, and subsidized part of exporters’ expenses in the four-day expo.

Latest government figures showed that the furniture export industry suffered the steepest decline in revenues of US $51.21 million last April although it managed to keep its rank as the country’s fifth largest export.

Cebu, the furniture export capital of the Philippines accounting for about 60 percent of monthly exports, is feeling the brunt of the global financial crisis with foreign orders steadily declining.

According to Caberte the government through DTI has to help the exporters in different ways in order to survive, organizing the “Exporters’ Expo” is just one of the efforts being implemented by the government.

The Cebu Furniture Industries Foundation (CFIF) reported early this year, that the industry suffered a 30 to 50 percent setback in volume of orders at the height of the global financial crisis.

The gifts, toys and houseware (GTH) sector, on the other hand, experienced a 30 percent decline in orders, said GTH past president Jenifer Cruz.

Likewise, the fashion accessories sector also experienced slight slowdown, although it is the least affected sub-sector in the export industry.

As demand softened worldwide, exporters turned to the DTI to help them dispose inventories in the local market.

During the event, export products were offered up to 70 percent discounts. Hence, as early as day one, home furnishing products, furniture pieces and fashion accessories were easily sold out.

But since the Exporter’s Expo was considered an “extraordinary move” of the government, Caberte said the DTI and the expo organizers have to assess the export situation following reports of an economic recovery to see if such interventions are still needed.

Aside from the DTI, the Bureau of Export Trade Promotion, the Center for International Trade Expositions and Missions and the Export Development Council also helped organize the activity.