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Business

sales up

in Philippines

MANILA: Twenty-one leading business sectors posted an average increase of 17 percent in terms of sales value during the first six months of the year, the trade and industry department said.

Out of the 21 sectors, 19 sectors recorded growth in their sales value ranging from eight percent to 45 percent.

Two sectors, wood-based and pharmaceutical businesses, posted declines in sales, it said.

The top five biggest earners were businesses involved in pulp and paper, which grew by 45 percent, agro-based industries, 42 percent, engineering and metal working, 35 percent, sugar 32 percent and iron and steel, 27 percent.

In terms of sales volume, only fifteen sectors posted growth.

A total of 887 firms out of the 957 sample companies responded to the survey conducted by the Department of Trade and Industry.-Reuter