The Philippine metal sector sees about 25-percent growth in 2020 with demand for steel expected to continue growing amid more construction activities.
Jimmy Chan, Philippine Exporters Confederation Inc. trustee for the metals sector, said while exports only comprise a small portion of its total revenues, the domestic market is huge.
“In the Philippines, we are very fortunate because we have the construction –Build, Build, Build (infrastructure program) and also the local construction activities are giving a very big boost to our local economy,” he said.
Chan further said the government is also expected to pick up the pace on infrastructure development after it slowed because of the budget deadlock in the Congress.
President Duterte signed the 2019 budget only in April.
Metals belong to a bigger sector, the iron and steel industry and comprise of basic metal and fabricated metal products.