Electronic exports up 5.7% in Jan-Aug
Earnings from electronic exports went up by 5.71 percent to $24.99 billion in January to August this year from $23.64 billion last year, the Semiconductor and Electronics Industries in the Philippines Foundation Inc. (Seipi) reported.
Data from Seipi showed six out of the nine sectors increased earnings from last year’s year-to-date figures with consumer electronics having the biggest gain at 83.27 percent to $384.92 million from $210.03 million last year.
Other gainers include office equipment, 44.20 percent to $600.10 million from $416.16 million; control and instrumentation, 11.30 percent to $584.85 million from $525.46 million; electronic data processing, 7.20 percent to $4.17 billion from $3.89 billion; automotive electronics, 5.93 percent from $67.25 million to $71.24 million; and semiconductors, 4.22 percent to $18.32 billion from $17.58 billion.
Seipi said the sectors that decreased included communication/radar which dropped by 15.82 percent to $387.34 million from $460.15 million; medical/industrail instrumentation, 7.49 percent to $39.25 million from $42.47 million; and telecommunication, 4.32 percent from $435.90 million last year to $417.07 million this year.
For August alone, electronics exports grew by 6.98 percent from $3.13 last year to $3.35 billion this year.
Seipi said four out of the nine sectors grew, led by consumer electronics at 95.23 percent to $51.57 million from $26.41 million in August 2017.
Other sectors that increased included office equipment, 77.79 percent to $88 million from $58.08 million; semiconductors, 7.73 percent from $2.3 billion to $2.5 billion; and electronic data processing which went up by 3.37 percent to $522.9 million from $505.9 million.
Seipi said exports of communication/radar slipped by 30.30 percent to $46.05 million from $66.08 million.
Other sectors that decreased were medical/industrial instrumentation, 27.65 percent to $5.2 million from $7.22 million; telecommunication, 22.73 percent from $63.89 million to $49.37 million; control and instrumentation, 5.08 percent to $70.02 million from $73.76 million; andautomotive electronics, 1.65 percent from $6.21 million to $6.10 million.
“The top five countries of destination in August were Hong Kong, the United States, People’s Republic of China, Singapore, and Japan,” said Seipi.
Other destinations in the top 10 were Germany, Taiwan, Netherlands, Thailand, and Malaysia.
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