A ranking trade official said that aside from looking overseas, exporters are now also scouting for domestic opportunities arising from robust demand.
Export Marketing Bureau (EMB) Director Senen Perlada told reporters on Monday that some of the country's traditional exports have equally strong demand locally. He cited furniture and fixtures as well as food products as examples, which are just as in-demand by Filipino consumers.
“A lot of our exporters are really looking at our domestic market, for example furniture and fixture. Just look at the local market, the construction, new buildings are coming up, residentials -- really huge [opportunities],” said Perlada.
He added that there is also an upbeat demand for food products in the local market, which competes with the supply for exports demand.
“Export manufacturers have to compete with the same materials for both of the domestic and local market,” EMB chief said.
“The strength of domestic market is there,” he stressed.
Perlada said there is a need for manufacturers to increase their production in order to meet the demand generated by both the domestic and international markets.