A significant development in the Philippines" art and craft market is the robust growth in labor force participation rates, which reached 63. 46% in 2022, up from 58. 50% in 2021. This increase has positively influenced the handmade sector, particularly in handicrafts and decorative arts, driven by higher female workforce involvement, which rose from 44. 20% in 2021 to 50. 38% in 2022. The expansion of labor participation provides an opportunity for businesses to tap into a more diverse and skilled pool of artisans, which can enhance the quality and variety of art products, including handmade jewelry and furniture. Despite these favorable trends, the sector faces challenges such as vulnerable employment, notably among women, which constituted 40.

28% of female employment in 2022. This underscores a need for more stable job opportunities and training initiatives to improve employment quality within the industry. Furthermore, while imports of goods and services increased by 14. 02% in 2022, the art and craft sector can benefit from targeted export strategies to balance trade deficits, as seen with the external balance on goods and services being -15. 65% of GDP in 2022. Globally, the Philippines is positioned competitively in the art and craft sector, yet there"s untapped potential in enhancing manufacturing value-added contributions, which saw a modest growth of 4. 86% in 2022. By focusing on increasing medium and high-tech manufacturing, which currently accounts for 28.

95% of manufacturing value added, the sector could see improved global competitiveness. To navigate these challenges and capitalize on emerging opportunities, businesses can leverage platforms like Aritral. com. Aritral simplifies international trade in commodities and raw materials with services such as product listing, direct communication, and AI-powered marketing. This AI-driven B2B platform enables businesses to connect with global partners and expand their market reach, providing tools that are essential for navigating the complex dynamics of the Philippines" art and craft market. "