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Citing the International Trade Centre’s Export Potential Assessment study, Export Marketing Bureau consumer and industrial division chief trade and industry development specialist Rudolph Jay Velasco said of the total export potential, $204 million represents growth-based export potential which is based on the projected economic growth of the Philippines and/or the demand growth in the target market.
Velasco said $142 million frictions-based export potential is linked to a simple lack of market research. Velasco said wood, paper, rubber and plastics, which include wooden furniture, have the highest unrealized export potential of $122.14 million. Velasco said the Philippines has a wide range and rich diverse cultural heritage, including indigenous crafts, historical artifacts, traditional textiles and even art works.
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