The Semiconductor and Electronics Industries in the Philippines Foundation Inc. (SEIPI) has revised slightly upwards its industry growth outlook for this year but is still in negative territory to reflect the impact of the Covid-19 pandemic.
Only two sectors in the electronics industry posted positive growth rates: control and instrumentation; and automotive electronics.
The electronics sector, which accounts for over half of the country’s total merchandise exports, experienced a steep 18.8% decline in export value from January to May this year.
Six out of nine electronics exports groups reported positive growth for the first quarter despite the Covid-19 pandemic, according to data from the Philippine Statistics Authority (PSA).
The electronics sector comprised of 56.9% of total exports, with non-electronic products making up the remaining 43.1% at $30.3 billion, according to the Department of Trade and Industry (DTI).
The DOST created the EPDC (Electronics Product Development Center) in response to an industry need for facilities to improve product design, development, test, and to spur even more electronics manufacturing in the country.
As the Sino-US trade war rages, China is looking at the Philippines to be a ready source of electronic parts for the expanding Asian market.