THE electronics industry has started witnessing a recovery, boosting hopes for a 5-percent growth in 2013 after suffering a slump last year.
“We have started to recover [this]June and July. The cause of deficiency in the first half was overstocking in the previous quarters . . . In fact, we are seeing about 5-percent [growth]over last year,” said Francisco Ferrer, Philippine Exporters Confederation Inc. (PhilExport) trustee representing the electronics and semiconductor sector.
Ferrer said the appetite for electronics products is rising especially in Asian countries, bolstered by their high economic growth.
“So we [Asia] are really the focus of consumable companies . . . Europe is still not consuming as it used to be but [demand in]the United States has started to pick up in consumer products,” he noted. Ferrer said the demand for wireless communication systems has grown significantly.
“Products, like for example computers, are not moving but the mobile phones are still very, very strong. We can also see some improvements in solar cells for power generation applications,” he said. Ferrer added that automotive electronics also seem to be a growth market.
The National Economic and Development Authority also expects export of semiconductors to likely improve in the remaining months of the year because of the anticipated increase in global demand.
Revenues from electronics products, the country’s top exports, posted a 5.2-percent contraction to $22.56 billion in 2012 from previous year’s $23.80 billion because of lower demand in key markets.