NEWSFLASH

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EXPORTS SURGE 23%

Manila, Nov. 7, 1997 - Total exports rose by an impressive 23 percent for the first nine months of 1997, from $14.926 billion to $18.62 billion, thanks to the performance of the electronics manufacturing sector.

The report of the National Statistics Office for the January-September period boosted the target of attaining a $25-billion export record this year, from $20.5 billion last year.

Among the top export winners are the electronics and components sectors, which posted a 41.3% increase from $769.13 million in 1996 to $1.086 billion this year. The sector accounted for 46.5 percent of the total exports for the month of September alone.

The second biggest export earner, with receipts worth $220.14 million, is the apparel and clothing accessories group. This year's earnings reflect a 7.6 percent improvement from the $204.54 million level in September of 1996. This sector accounts for 9.4% of total exports last September.