PH electronics exports up in first five months of 2016

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Exports revenues of the country?s electronics industry increased by 2.05 percent from January to May, SEIPI (Semiconductor and Electronics Industries in the Philippines Inc.) president Dan Lachica said on Tuesday, July 13.

electronics

Outbound shipment for the first five months of the year reached a total of $11.15 billion from $10.92 billion in the same period in 2015.

Lachica said five out of nine sub-sectors have increased exports in January to May this year.

The industry gainers for the period include electronic data processing, up by 3.4 percent to $2.09 billion; consumer electronics, up by 79.6 percent to $214 million; telecommunications, up by 131.2 percent to $306 million; communications and radar, up by 43.4 percent to $177 million; and automotive electronics, up by 62.1 percent to $76 million.

?Conversely, office equipment went down by 44 percent, followed by control and instrumentation at 12.4 percent, medical and industrial instrumentation at 11.4 percent, and semiconductors at 0.3 percent,? Lachica said.

For the month of May alone, electronics exports slightly increased by 0.24 percent to $2.26 billion.

The industry contributed 8 percent of the country?s total exports in May, which amounted to $4.71 billion.

Top exports destinations of the electronics industry in May were Hong Kong, United States, China, Japan, and Singapore. — PNA

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