How furniture industry contributes to PH economy


Posted at Mar 22 2015 08:42 AM | Updated as of Mar 22 2015 05:10 PM

MANILA – The Philippine economic growth has raised most of its sectors, one of which is the ever-growing furniture industry.

With real estate developments popping up around the country, there has also been an increase in proliferation and promotion of Filipino-made products both locally and globally.

According to the Chamber of Furniture Industries of the Philippines, the sector has given its fair share of economic contributions.

In 2014, the furniture industry was able to create nearly 2 million jobs.

It has also given assistance to communities in the various regions where materials come from, and is considered one of the top exports of the country.

“It’s very important to support local talent because we are known as the Milan of Asia. The creativity of the people is being nourished in the Philippines, and the special skills from the grassroots level up to the higher level—these all contribute to the economy,” said Salvio Valenzuela, executive director of the Chamber of Furniture Industries of the Philippines, on ANC's "On The Money."

The industry, however, has also faced several stumbling blocks that have hindered its growth.

One of the issues that affected the sector is the congestion in Manila ports, which handicapped delivery of products around the country. The port congestion also raised costs of trucking services.

The disruption in electricity also affected local production.

Valenzuela said side from product development, getting to know those in the industry as well as finding avenues to find products is a good way to help furniture businesses.

“We, in partnership with government, are helping all the SMEs in the furniture industry in terms of basic manufacturing, product development, and in marketing, so we will able to continue the production line and offer products globally that are acceptable in international standards,” he said.