Peaceful polls boost furniture exports growth (Business Mirror)

Written by Bong D. Fabe / Correspondent

WEDNESDAY, 19 MAY 2010 00:05

CAGAYAN DE ORO CITY—The generally peaceful conduct of the elections is seen to boost furniture exports by 5-10 percent this year and another 10-15 percent in 2011. This as industry players exploit more robust markets abroad, said Emmanuel P. Padiernos, vice president for Market Development of the Chamber of Furniture Industries of the Philippines (CFIP). In 2009, the Philippines total furniture exports amounted to $240.3 million, an increase of $20.7 million from the 2008 figure of $219.6 million, he said. “With the positive effect of the last election [generally peaceful, new leaders and better image of the country], buyers will be more comfortable to come to the Philippines to replenish their much-needed stocks,” he said in an e-mailed statement. Padiernos said the growth of the sector would also be buoyed by the furniture industry’s efforts to expand its market in the region. “Although a lot of our members are still apprehensive of China’s copying our products, we are considering penetrating the China market aside from India, Australia and of course, the Association of Southeast Asian Nations (Asean),” he added. Crucial to attain this and next year’s revenue goals is an aggressive market promotion, he said. This plus the slowly recovering traditional markets such as the US and Europe could boost the growth of the industry. He explained that in 2009, the upturn of these traditional markets helped the country’s furniture exporters achieve a 9.4-percent growth.