Furniture makers project $200-M export earnings

MANILA, Philippines - Furniture makers are hoping to end 2012 with $200 million worth of export earnings, given an expected increase in orders in the latter part of the year.

Chamber of Furniture Industries of the Philippines (CFIP) president Nicolaas De Lange told reporters the group is looking to post higher export earnings this year.

“2011 was only $170 million so we are hoping (for) at least $200 million this year,” he said.

He said, higher export earnings could be achieved with an increase in orders usually seen in the latter part of the year.“Normally, in the last part of the year, there’s a surge,” he said.

Data from the National Statistics Office showed that the value of furniture and fixtures exports for the January to October period reached $151.88 million, up 7.62 percent from the same period last year.

De Lange did not give a specific projection but he said the CFIP also wants export earnings to rise next year from this year’s.

He said furniture makers can see higher export earnings next year as they anticipate more buyers to come to the trade show in March.

He said the trade show held in March this year created a buzz among buyers as major sourcing events in Manila and Cebu worked together to put one convenient venue to showcase the country’s furniture.

“Many were talking about the Philippine furniture show on blog sites and so we are expecting that in March, more buyers would come that will translate to more sales for us,” he said.

But while more buyers are expected at next year’s show to support higher export earnings, furniture makers still face challenges.

Among the challenges, De Lange said, is the moratorium on logging imposed by the government which has resulted in a rise in prices of plantation wood to P65 to P70 per board foot from P40.