Nov exports grew by 18%, says Purisima

Trade and Industry Secretary Cesar V. Purisima confirmed yesterday that the country’s export performance actually grew by 18 percent in November last year instead of the earlier reported four-percent decline.

According to Purisima, the government is looking at the $716-million export receipts recorded by the Automated Export Documentation System that was not included in the National Statistics Office (NSO) export report.

When the NSO reported a decline in export figures early this month, electronics manufacturers and exporters expressed surprise over the decline.

Semiconductor and Electronics Industry of the Philippines Inc. (SEIPI) executive director Ernesto Santiago questioned the NSO data and expressed his view that "the November (electronic exports) figure was strange."

Santiago said that most electronic companies reported positive growth in November. However, Santiago did not cite the numbers.

Santiago insists, however, that Texas Instruments and Amkor Anam, as well as several small companies, reported growth in November.

Santiago said that if the government figure is incorrect, the electronics industry would keep its flat growth projection for 2003.

The electronics industry, Santiago said, still expects growth in December and a little lower than the expected growth in November.

On the other hand, Santiago said, if the November negative figure was correct, the electronics industry’s growth in December would be negative and would not even allow for a full year flat growth in 2003.

But for this year, Santiago is still hopeful of a turnaround for the industry and a positive growth of 10 percent.

The NSO had reported early this month that November 2003 electronics exports fell 10.3 percent to $2.012 billion from November 2002’s exports of $2.244 billion.