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Citem braces for 30% drop in export orders

By Abigail L. Ho
Philippine Daily Inquirer
First Posted 19:11:00 11/03/2009

Filed Under: Economy and Business and Finance, Trade (general)

MANILA, Philippines--Wwith the economies of the country's major export markets still sluggish, the Center for International Trade Expositions and Missions expects orders? generated through its trade shows and missions?to decline by 30 percent this year.

In an interview Tuesday, Citem deputy executive director Thelma Dumpit-Murillo said the country?s regular buyers?the United States, Japan and Australia?were still not buying. New buyers, however, had expressed a lot of interest in the country?s goods.

But orders from these new buyers were not enough to pull up total sales for the year.

Without citing specific figures, she said 2009 export orders should decrease 30 percent vis-à-vis 2008.

Last year, orders declined 50 percent from 2007 figures.

?Our big-ticket items, the furniture and furnishings, are still not selling that much. Our bestsellers in past shows were the smaller items such as Christmas decor and fashion accessories,? she said in a briefing.

She said Citem was also looking more to emerging markets for new sales. These include the BRIC countries Brazil, Russia, India, and China, as well as Turkey, the Middle East and other European economies.

During the Manila Furnishings and Apparel Manufacturers? Exchange (Fame) International last month, she said buyers from the Middle East, Germany, France, and the Netherlands showed great interest in the country?s wares.



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