Furniture industry to grow 10% this year

MANILA, Philippines - The local furniture industry is projected to grow by 10 percent this year amid strong demand expected from both local and export markets.

Philippine Exporters Confederation, Inc. trustee for the furniture sector Myrna Bituin noted that there is room for the industry to grow as furniture makers could 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.

She 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 observed that the export market is still growing despite the slowdown in demand from the US.

The Middle East, Bituin added, is one of the growing markets for the local wood sector.

In Japan, there is strong demand for prefabricated housing components.

“Europe is (also) a good market. Europe is very traditional, they can sell your product for 10 to 15 years. So you become good in what you are doing because it is the same product that you have been doing for the past 10 years,” Bituin said.