NEWSFLASH

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17% DIP IN CONSTRUCTION MATERIALS EXPORTS

Manila, Oct. 27, 1997 - Exports of construction materials dipped 17.4% in the first eight months of 1997, to $76.571 million from $92.755 million in the same period last year.

The Bureau of Export and Trade Promotions said the peso devaluation which took effect in July did not result in any improvement in dollar earnings for the materials. At the same time, several producers have moved to sell their products in the local market, thus lowering the volume and value of exports.

Reduced exports were registered by the following products: builders' joinery and wooden carpentry, wooden door frames and thresholds and bamboo torches.

On the other hand, plastic sanitary ware, wooden doors and wooden frames registered increased export volumes.

Major markets tapped were: Malaysia, Japan, UK, USA and Canada.

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