MANILA, Philippines - Exports are expected to post double- digit growth this year, the Department of Trade and Industry (DTI) said.
“The first semester will see growth returning but the second of half of 2010 will likely to be robust,” Trade Secretary Jesli Lapus said. “Philippine shipment of electronics and semiconductors is expected to grow 10 to 15 percent for the year which is driven by strong demand notably from China.”
It can be recalled that February exports posted 42.32-percent growth from $1.35 billion last year to $3.57 billion this year. This is the fourth straight month that exports grew on a year on year basis.
Major domestic players attributed the increase in electronic exports to growing pick-up in demand which is a sign of improving consumer confidence.
Lapus said there is increase in consumer demand in new technology and energy efficient products such as smart phones, flat panel and LED television sets, laptops and netbooks. Also in demand for 2010 are DVD video players, PMP/MP3 players, digital photo frames and handheld video games.
End in the worldwide slump meant job stability for Filipinos working in the semiconductor industry. “Moreover, laid off workers were rehired as firms started receiving increased orders from abroard,” Lapus said. “It also means that unemployment in Laguna, the site of many electronics manufacturing firms in the country, has been reduced.”
The Semiconductor Industry Association reported that worldwide semiconductor sales in February were $22 billion, growing by 56.2 percent from February 2009 when sales were $14.1 billion.