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Philippine Electronics, Semiconductor Industry Reports Double Digit Decline
Source: news.xinhuanet.com
Source Date: Monday, October 21, 2013
Country: Philippines
Created: Oct 22, 2013

The Philippine electronics and semiconductors industry recorded a decline of 10 percent to 12 percent in the first three quarters, due to lackluster performance.

 

Export of electronics in the first eight months sustained 13 percent decline to 13.66 billion U.S. dollars from 15.7 billion dollars in 2012, Semiconductor and Electronics Industries of the Philippines (Seipi) Executive Director Dan Lachica said in a briefing during the 12th CEO's Forum and 114th General Membership Meeting at Solaire Entertainment City in Paranaque City on Monday.

 

The semiconductor subsector, which comprise 76 percent of industry export, posted a decline of 11.62 percent to 10.44 billion U.S. dollars from 11.84 billion dollars in the same period in 2012, he said.

 

Despite the contraction in electronics and semiconductor output, automotive and consumer electronics posted growth of 324 percent and 19.66 percent, respectively.

 

Automotive electronics exports went up to 362.75 million U.S. dollars from 85.45 million dollars in 2012, while consumer electronics generated 198.42 million dollars from 165.82 million dollars in 2012.

 

Forecast for semiconductor will remain bleak in 2014 due to foreseen continuation of price cuts, but industry is expecting to rebound targeting for a modest 5 percent growth on the continuing strength in the automotive and consumer electronics subsectors and incremental output for new investments.

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