Local furniture manufacturers are currently enjoying robust growth given strong export and local demand, according to the Philippine Exporters Confederation Inc. (Philexport).
In terms of exports, the industry is expecting to sustain a growth of 10 percent this year and in 2018, Myrna Bituin, Philexport trustee for the furniture sector, was quoted in a statement as saying.
Bituin pointed out that many of the local players are focusing on high-end markets and catering to overseas projects. Examples include the palaces in Qatar, the villas in Morocco, the villas in Abu Dhabi.
“Ten percent is very sure this year. We are just talking only of exports, but the growth of the local market is much higher. There are companies (whose) production is fully booked by the local market,” she said.
Bituin however noted that there is an equally strong local demand for furniture, fueled largely by a booming property market. This is mainly because more Filipino furniture manufacturers can now access real estate developments.
“Today, if you are going to check the big hotels, their suppliers are local exporters. We are talking of something like a 600-room hotel which is being now supplied by local companies—that is really a tremendous growth,” Bituin said.
“Today, I can say that a lot of companies are busy because of the local market. But of course it is also important for us to tap, go into exports,” she added.