Electronics imports up 28.8% in June


THE electronics industry remained the country’s top importer in June 2016, accounting for $1.697 billion or 24.8 percent of $6.853 billion in total payments, data released by Semiconductor and Electronics Industries in the Philippines Foundation Inc. (Seipi) showed.

Month-on-month, electronic imports increased by 1.09 percent to $1.697 billion from $1.679 billion in May.
Seven sectors posted positive growth from the previous month’s figures, led by Office Equipment at 61.27 percent, from $10.80 million in May to $17.41 million this June.

The other sectors were Medical/Industrial Instrumentation, up 29.59 percent, Electronic Data Processing (17.91 percent), Automotive Electronics (13.05 percent), Consumer Electronics (11.14 percent), Control and Instrumentation (3.22 percent), and Components/Devices (Semiconductors) (0.84 percent).

On the other hand, Telecommunication decreased by 23.11 percent, along with Communication/Radar at 0.13 percent.

Year-on-year imports decreased by 15.80 percent to $2.016 billion from $1.697 billion.

The Components/Devices (Semiconductors) dropped 30.15 percent to $1.154 billion from $1.653 billion.

The Philippines’ top sources of electronic imports, accounting for 66.3 percent, were Taiwan (15.2 percent), People’s Republic of China (14.8 percent), Japan (12.9 percent), United States of America (12.3 percent), and Singapore (11.0 percent).

The remaining top ten markets were Republic of Korea (9.0 percent), Hong Kong (6.2 percent), Thailand (4.8 percent), Malaysia (4.0 percent) and Vietnam (2.8 percent).


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