REVENUES from electronic exports increased by 3.3 percent to $11.75 billion (P627.8 billion) in the first four months of 2018 from $11.38 billion (P608.03 billion) in the same period last year, the Semiconductor and Electronics Industries of the Philippines Foundation Inc. (Seipi) said.
Data on Seipi’s website showed that seven sectors saw their exports grow from January to April: automative electronics, by 23.6 percent to $37.1 million (P1.98 billion) from $30.01 million (P1.6 billion) a year ago; consumer electronics, 16.7 percent; office equipment, 16.3 percent; control and instrumentation, 12.3 percent; telecommunication, 6.5 percent; electronic data procession, 4.2 percent; and components/devices (semiconductors), 3.1 percent.
Communication/radar and medical/industrial instrumentation exports in the period fell by 26.4 percent and 25.4 percent, respectively.
“The top five countries of destination in April 2018 were Hong Kong (22.72 percent), the United States of America (13.55 percent), People’s Republic of China (12.5 percent), Singapore (9.08 percent), and Japan (6.87 percent),” Seipi said.
The amount generated in the period improved on the $8.69 billion (P464.31 billion) posted in the first quarter.
It is also more than half the $17 billion (P908.31 billion) that Seipi President Danilo Lachica previously said was expected for the first half of the year.
For April alone, exports climbed by 5.5 percent to $2.98 billion (P159.22 billion) this year from $2.82 billion (P150.67 billion) in 2017.
Consumer electronics grew in the month by 50.1 percent to $41.1 million (P2.2 billion) from $27.39 million (P1.46 billion) in April 2017; office equipment, 11.5 percent; electronic data processing, 7.6 percent; control and instrumentation, 6.9 percent; and components/devices or semiconductors, 5.3 percent.
Four sectors recorded drops in the period: automotive electronics (12.5 percent), communication/radar (12.2 percent), telecommunication (11.6 percent), and medical/industrial instrumentation (7.4 percent).
The data come a month after Seipi launched the Product and Technology Holistic Strategy, an industry roadmap that aims to increase the industry’s revenues to $50 billion (P2.67 trillion) by 2030.
First established as the Semiconductor Electronics Industry Foundation Inc. (Seifi) in October 1984, Seipi is the largest organization of Filipino and foreign electronics companies in the country.