PH electronics exports take a dive

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[/caption] Neda made the statement after the National Statistics Office (NSO) announced that total export receipts increased to $4.6 billion in April 2012 from $4.3 billion in the same period a year ago. According to the latest NSO data, electronics exports decreased from $2.2 billion in April 2011 to $1.6 in April 2012 due to lower receipts from semiconductors (-29.4 percent), electronic data processing units (-24.5 percent), automotive electronics (-94.6 percent), communication/radar (-26.2 percent), and consumer electronics (-0.4 percent). ?The decline in the country?s semiconductor exports reflected the developments in the global chip market in April 2012. According to industry sources, worldwide chip sales decreased by almost three percent year-on-year, from $24.8 billion in April 2011 to $24.1 billion in April 2012,? Neda chief Arsenio M. Balisacan said. ?Meanwhile, improved sales in other subsectors, such as telecommunication, control and instrumentation, office equipment and medical/industrial instrumentation, failed to buoy the receipts from electronics exports,? he added. He added that world consumption of consumer durables, which include goods that have high electronics component such as motor vehicles, home appliances and miscellaneous products like mobile phones and computers are normally low during economic downturns, unlike demand for basic non-durable commodities such as food, capital goods, raw materials, and articles of apparel. ?Given the benign response of non-electronic exports to global weakness, programs and projects in the areas of financing, promotions and marketing, customs procedures, technological and industrial upgrading, and integration to local and international markets will be combined with intensified policy support to improve the productivity and competitiveness of the non-electronics industries,? said Balisacan. Balisacan said that non-electronic products have been registering a healthy position, and this was again seen in the latest exports figures. ?Except in 2009, non-electronics growth has averaged around 9.7 percent from 2002 to 2011 and has managed to post positive contribution to exports growth even during and following global crises,? said Balisacan,. The Neda chief said that major trade-oriented economies in East and Southeast Asia registered mixed exports performance in April 2012. ?Vietnam recorded the highest year-on-year growth (19.1 percent). Other countries which posted positive exports growth were Japan (10.7 percent), Hong Kong (5.8 percent), China (4.9 percent), and Singapore (3.5 percent). On the other hand, export contractions were seen in Taiwan (-6.4 percent), Indonesia (-1.3 percent), Malaysia (-1.7 percent), Thailand (-3.7 percent) and the Republic of Korea (-4.8 percent),? Balisacan said. According to NSO, Japan was the top destination of the Philippine exports in April 2012, accounting for 15.9 percent of total export receipts. This was followed by the United States of America (14.6 percent), Korea (14.2 percent), China (10.7 percent) and Hong Kong (8.8 percent). The share of total export revenues from China, Hong Kong, and Taiwan accounted for 22.9 percent of the country?s total merchandise exports, while shipments to the Asean and European Union covered 16.9 percent and 9.6 percent, respectively. ]]>

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