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Monday, February 06, 2006
40% of total RP furniture exports come from Cebu - foundation
CEBU accounts for 40 percent of the country’s total furniture exports.
The Cebu Furniture Industries Foundation (CFIF) clarified reports that Cebu accounts for only 20 percent of the country’s overall furniture exports.
The foundation, citing data from the National Statistics Office and Bureau of Export Trade Promotions (BETP) in the third quarter of last year, said Cebu furniture exports amounted to $102 million.
Value
The country’s total furniture export is worth $259 million as of the third quarter last year, it added.
The value of Cebu furniture export already includes exports from the Mactan Economic Zone, CFIF said in a statement.
Based on the latest data from BETP, the Philippine furniture industry recorded a six percent increase in its export performance.
Cebu’s furniture export industry posted an increase of an average of two percent and has maintained its 40 percent contribution to the Philippine furniture exports in the past five years.
Markets
Sixty-eight percent of total Philippine furniture exports are shipped to the United States, which remains to be the country’s largest market for furniture and furnishings.
Other major markets for Philippine furniture include Japan, United Kingdom, France and Australia.
In 2004, total world export of furniture were worth $84 billion.
The Philippines ranked 36 in the list of furniture exporters with total exports amounting to $294 million. (PR)
For Bisaya stories from Cebu. Click here. (February 6, 2006 issue)
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