The highest record for electronic exports was achieved by the sector for 2017, amounting to $32.7 billion, Semiconductor and Electronics Industries in the Philippines Foundation Inc. (SEIPI) officials said.
“That really is significant because it is the highest level of exports we’ve achieved since the beginning of the electronics industry,” SEIPI president Danilo Lachica said on the attainment, an Inquirer.net article noted.
In a briefing, the organization also pointed out that the figure also reflected an 11 percent increase from 2016’s $29.4 billion revenue, according to a report by InterAksyon.
Before this new record, the highest level reached was at $31 billion in 2007 and 2010, Lachica said.
The Inquirer.net report also mentioned that last year, the electronic sector was responsible for 52 percent of the Philippines’ merchandise exports.
Still, for the current year, a modest 6-percent growth expectation has been set by the sector, which Lachica said to be realistic following the recent record, the InterAksyon article indicated.
The same article also specified that electronic goods like “electronic data processing, office equipment, consumer electronics, communication/radar, and control and instrumentation” have shown an increase in revenue for the past year.
On the other hand, “telecommunication electronics, medical/industrial instrumentation and automotive electronics” revenues decrease, InterAksyon said.