Electronic products remain top export of PH

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By Edu Lopez

Electronic products remained the Philippines? top export with total receipts of $2.353 billion, accounting for 45.9 percent of the total exports revenue in August 2015.

Photo credit: www.nie.gov.pk
Photo credit: www.nie.gov.pk

Data from the Philippine Statistics Authority (PSA) revealed that exports of electronic products increased by 3.3 percent from $2.277 billion registered in August 2014.

Among the electronic products, semiconductors had the biggest share of 33.5 percent, whose exports grew by 8.6 percent to $1.718 billion in August 2015 from $1.581 billion in August 2014.

Semiconductor devices, the foundation of modern electronics, are being used in making high-speed computers, telephones, and a variety of equipment.

Exports of electronic equipment and parts rose by 185 percent to $94.3 million in August 2015 from $94.03 million in 2014.

According to a new PwC study, one of the growth drivers of the semiconductor industry worldwide is the connectivity of information or the Internet of Things (IoT) that would drive a 29-percent increase in semiconductor industry billings over the next five years.

The PwC study revealed that the global semiconductor industry billings would increase to $432 billion by 2019 with a compound annual growth rate (CAGR) of 5.2 percent.

Connected devices ? ranging from consumer-oriented technologies such as smartphones, tablets, cars and wearables, industrial machinery, commercial jet engines and oil-drilling rigs ? rely on data-collecting components, and these sensors will be one the biggest growth drivers in the semiconductor industry.

Raman Chitkara, PwC Global Technology and Semiconductor Leader, said: ?The Internet of Things, especially in the wearables space, affects not only the economy, but also our daily lives.?

?This growing widespread connectivity will stimulate a huge demand for sensors and represents one of the most significant opportunities for the semiconductor industry since the Internet boom,? says Chitkara.

?The IoT, which influences both industry and private life, will particularly drive the growth of the semiconductor industry. Connected smart devices can collect and exchange information with each other. Without sensor endpoints, this progress would not be possible.?

PwC expects semiconductor sales from sensors and actuators would reach $14 billion by 2019, with an annual growth rate of 10.4 percent.

?Examining the worldwide semiconductor market in terms of installed components, the sensors and actuators segment will show the highest growth rate.?

?One application that could be positively impacted by the IoT is wearables ? a minicomputer that records a person?s movements and nutrition as they are worn.

?Wearables have seen some of the most advanced innovations of the last few years, and are now a booming consumer market. The market has been flooded with wearable personal health tracking products that promise to improve overall health by monitoring activity, exercise, sleep, nutrition and heart rate.?

PwC forecasts semiconductor revenue from wearables would grow from a combined $15 million in 2013 to more than $7billion in 2019.

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