Market Analysis of Sanitary Ware Manufacturers Exporting to
The Philippines is a member of the Association of Southeast Asian Nations. In order to achieve the goal of economic development, ASEAN countries strive to build the ASEAN Economic Community by the end of 2015, and are increasing the construction of infrastructure projects. Driven by strong domestic demand and investment, the Philippine economy will continue to grow at a high speed in the next two years. 144 billion pesos will be invested in building property, roads, schools and other facilities related to basic government services.
The Philippines grew by 7.8% in the first quarter of this year. The Philippines is currently the fastest growing economy in Southeast Asia. The stock market is booming and the currency is strong. The Philippines is favored by international rating agencies. Philippine consumers continued to lead the economic growth in the last quarter, helping to offset the negative impact of weak exports. Strong government spending on infrastructure also helps to consolidate economic figures. In the first half of the year, the Philippine GDP grew by 7.6% year-on-year, higher than the target of 6.0-7.0% growth in 2013. As a result, Philippine assets outperformed other countries. The Philippine Peso has fallen in recent days, but less than the Indian rupee, the Indonesian guilder and the Malaysian ringgit. The yield on 10-year Treasury bonds in the Philippines has fallen, while the cost of attracting capital in other countries is rising.
According to the Philippine National Data Office, due to the growth in demand for residential and office housing brought about by economic development, 27,931 construction projects in the Philippines were approved in the fourth quarter of last year, an increase of 13.5% compared with the same period last year, which led to the growth in sales of sanitary ware products such as brand manufacturers in the first quarter of this year. It is predicted that the construction boom in the Philippines will continue this year.
The Philippine service industry is still developing vigorously, replacing India in 2011 and becoming the world's leading offshore telephone service center. However, the Philippines lacks the foundation of manufacturing industry, so there are not many local factories producing sanitary ware products such as brand manufacturers in the Philippines. Many brand manufacturers in the Philippines are looking for sanitary ware factories to do OEM.
There are three water heating bases in China, namely, Nan'an in Fujian, Kaiping in Guangdong and Zhejiang. Among them, Nan'an plumbing and heating base has a very mature industrial chain. Many factories have many years of OEM experience of exporting sanitary ware brand manufacturers. Through standardized production, production costs can be reduced. YOROOW Sanitary Ware has many years experience of brand labeling for Philippine Sanitary Ware brand manufacturers. There are many products in mainstream Philippine market.
The Philippines, an emerging market, undoubtedly has a huge market space for foreign trade exporters of Chinese bathroom brand manufacturers. Therefore, many domestic bathroom brand manufacturers or foreign trade companies reduce their investment in market costs of European and American countries and transfer to the Philippines to develop customers.