INTERNATIONALLY acclaimed furniture designer Kenneth Cobonpue has allocated 30 percent of his furniture production to the domestic market, attributing this shift to the improving economic conditions of the local market.The boom in the real estate market, even during the pandemic, has been helping the furniture and furnishings sector thrive.
Global tradeThe latest available report from the Philippine Statistics Authority showed that the country’s total external trade in goods in the first eight months of the year amounted to US$47.81 billion, down by 6.6 percent from $51.18 billion in the same period of the previous year.In August alone, the total external trade in goods amounted to $17.53 billion, down by 7.2 percent. Of the total external trade, 61.8 percent were imported goods, while the remaining were exported goods.