Recovery seen for electronics sector
MANILA, Philippines - Electronic firms have started receiving orders for delivery by the latter part of the year, boosting hopes for recovery in 2012 after suffering a slump last year amidst the global economic crisis.
“We started to see signs of recovery. We have gained some volumes as a result of the flooding in Thailand. I think, these will be translated into actual shipments starting the second half of the year,” said Francisco Ferrer, PHILEXPORT trustee representing the electronics and semiconductor industry.
He shared that several companies are in hiring mode in anticipation of better times.
Ferrer said that for instance, his company, Ems Components Assembly, Inc., is hiring 800 people this month alone. It is expected to continue to hire more workers next month.
“(With these), we will probably end up the year at the 2010 level which was $31 billion worth of exports. We lost 25 percent (of revenues) in 2011 and we are going back to 25 percent (this year),” he noted.
He added the United States and Europe remain their biggest market destinations.
With this year’s rosier outlook for the electronics sector, Ferrer cited the need for the industry players to implement various measures to maintain or increase the number of buyers. – Philexport News and Features
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