Electronics rank as top export

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THE electronics industry ranked the as the country’s top exporter in April, accounting for 53.1 percent share or $2.258 billion of the total exports of $4.254 billion in the month.

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Commenting on the standing of the electronics exports, Dan Lachica, the president of the Semiconductor and Electronics Industries in the Philippines Foundation Inc. (Seipi), noted that electronics exports in April inched up by 1.85 percent from its year-ago level of $2.216 billion.

The growth, said Lachica, was due to the improved export performance of six sectors, namely telecommunications (up by 94 percent); communication/radar (up 79.8 percent); automotive electronics (up 23.8 percent); electronic data processing (up 18.4 percent); control and instrumentation (up16.4 percent) and consumer electronics (up 13.9 percent).
Three sub sectors that tempered April growth were: office equipment (down by 56 percent), medical/industrial instrumentation (down 14.5 percent), and components/devices or semiconductors (down 2.6 percent).

Five sectors—telecommunication, consumer electronics, automotive electronics, communication/radar, and components/devices or semiconductors— pulled up year to date figures while four segments—office equipment, medical/industrial instrumentation, control and instrumentation, and electronic data processing—dragged January to April exports down.

In a month-on-month, April electronics exports declined by 4.16 percent from March.

The country’s top electronics market is Hong Kong, which took 18.1 percent of the total April exports followed by the United States (14.1 percent), Singapore (13.7 percent), China (11.6 percent), and Japan (9.3 percent).

Lachica expects exports of electronics and semiconductors to grow by 2-5 percent this year—lower than the actual 8 percent growth in 2015—given the weak global demand.

In 2015, the electronics industry that employed P80.783 billion or $1.75 billion worth of investments and 2.8 million workers exported $29.92 billion worth of goods.

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