PH electronics exports experienced an all-time high last year

The Semiconductor and Electronics Industries in the Philippines Foundation Inc. (SEIPI) revealed in a recent statement that the Philippines' electronics exports reach an all-time high last 2021.

File photo: PH flag with electronics background

Record numbers!

It revealed that the country's total electronics exports reached USD 45.92 billion (around PHP 2.3 trillion) last year which is 12.9 percent higher than the adjusted USD 40.67 billion in 2020. This is higher than the projected 10 percent increase for electronics exports.

In particular, the electronics sectors that posted growth in exports last year were telecommunications (138 percent, medical or industrial instrumentation (37.49 percent), electronic data processing (29.51 percent), consumer electronics (19.45 percent), office equipment (19.32 percent), control and instrumentation (12.92 percent), and components or devices or semiconductors (7.37 percent).

The Philippine Star reported that in December alone, the electronics exports of the county slightly went up to USD 3.92 billion from USD 3.90 billion in the same month in 2020.

The country's top clients last December were Hong Kong, United States, China, Singapore, and Japan. 

SEIPI expects that the growth will continue this year. The country's export is expected to grow by 10 percent.

The projection depends on improvements to inbound and outbound logistics flows, supply chain, the health of the population as well as the reopening of the country.

Source: The Philippine Star