PH furniture industry forecasts 20% sales growth in 2024

The local furniture-making industry is aiming for a 15 to 20 percent rise in sales this year to meet the demands of overseas markets for Filipino-made furnishings.

In a statement, Philippine Exporters Confederation Inc. (PHILEXPORT) Trustee for the Furniture sector Myrna Bituin said she is “hopeful about growth because buyers are coming in again and visiting the Philippines.”

Among the places with existing markets for Philippine furniture are the United States, United Kingdom, and Arabian countries as well as Dubai.

According to data accessed from the Department of Trade and Industry (DTI) – Export Marketing Bureau (EMB) website, furniture and fixtures made up P308 million of the country’s exports in 2022.

From 2018 to 2022, furniture and fixtures exports have amounted to P1.68 billion.

Bituin said that Filipino designers, manufacturers, and entrepreneurs are gradually catching up with new trends and the latest styles for finishing furniture, along with developing designs that are competitive yet accessible to consumers in the global market.

To boost their knowledge and capacities, Philippine manufacturers have been collaborating with the US on product development.

“…Because product development is very important because you need new products to sustain and they are now starting to come and start product development,” said Bituin.

This year will usher more participation from furniture industry players in international exhibitions in order to facilitate sales growth.

“Your presence in the market is important so you can have regular buyers and you can look for new buyers (in the exhibitions),” remarked Bituin.

The global stage for furniture makers she mentioned was the Imm Cologne furniture fair in Cologne, Germany this coming Jan. 14 to 18. In 2020, the trade fair featured 1,233 exhibitors from 139 countries, garnering 129,451 visitors from various industry stakeholders.

Led by the DTI – Center for International Trade Expositions and Missions (CITEM), Philippine furniture will also be featured at the Maison et Objet trade fair in Paris, France on Jan. 18 to 22.

The fair is considered one of the major trade events in Europe with over 6,000 visitors from 147 countries.

Last Dec. 6, 2023, the Philippine Trade Training Center – Global MSME Academy (PTTC-GMEA) also launched the OBRA Design Masterclass to train and elevate the craft of furniture designers.

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The article was originally published in Manila Bulletin and written by KHRISCIELLE YALAO.