Electronic exports up 5.38% in Jan-July
ELECTRONIC exports increased by 5.38 percent in the first seven months of 2018 to $21.61 billion (P1.15 trillion as of July 31) from $20.51 billion in the same period last year, the Semiconductor & Electronics Industries in the Philippines Foundation Inc. (Seipi) said on Thursday.
According to Seipi, electronic exports accounted for more than half—55.78 percent—of the country’s total exports in the period.
Data from Seipi showed that six sectors saw export growth from 2017’s year-to-date figures. These are consumer electronics, by 82.64 percent to $335.36 million (P17.86 billion) in January to July from $183.62 million a year ago; office equipment, 51.75 percent to $560.91 million (P29.88 billion) from $369.62 million; control and instrumentation, 14.44 percent to $516.95 million (P27.53 billion) from $451.70 million; automotive electronics, 6.70 percent to $65.13 million (P3.47 billion) from $61.04 million; electronic data processing, 6.35 percent to $3.6 billion (P191.75 billion) from $3.38 billion; and semiconductors, 3.49 percent to $15.78 billion (P840.49 billion) from $15.25 billion.
Three sectors saw decreases: communication/radar, by 13.39 percent to $341 million (P18.16 billion) in the seven-month period from $394 million the year before; telecommunication, 0.08 percent to $371.7 million (P19.8 billion) from $372.01 million; and medical and industrial instrumentation, 8.08 percent to $32.41 million (P1.73 billion) from $35.26 million.
For July, exports rose by 5.12 percent to $3.28 billion (P174.7 billion) this year from $3.11 billion last year.
Five sectors posted increases: Consumer electronics, by 217.36 percent to $68.36 million (P3.64 billion) in July from $21.54 million 12 months before; office equipment, 52.56 percent to $88 million (P4.69 billion) from $58.08 million; control and instrumentation, 23.41 percent to $77.82 million (P4.14 billion) from $63.06 million; electronic data processing, 7.80 percent to $547.67 million (P29.17 billion) from $508 million; and semiconductors, 1.49 percent to $2.37 billion (P126.23 billion) from $2.33 billion.
Four sectors recorded drops: Telecommunication, by 4.30 percent to $55.49 million (P2.96 billion) in July from 57.98 million a year ago; automotive electronics, 6.51 percent to $6.29 million (P335.02 million) from $6.73 million; medical and industrial instrumentation, 7.89 percent to $4.62 million (P246.08 million) from $5.02 million; and communication and radar, 1.5 percent to $53.6 million (P2.85 billion) from 54.61 million.
The top 10 electronic-export destinations in the month were Hong Kong, with a 21.85-percent share of total exports; the United States, 14.11 percent; China, 13.74 percent; Singapore, 9.01 percent; Japan, 6.94 percent; Germany, 5.87 percent; Taiwan, 5.05 percent; the Netherlands, 3.99 percent; Thailand, 3.98 percent; and Malaysia, 3.13 percent.
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.
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