Electronic exports starting to recover

MANILA, Philippines - The electronics industry is witnessing a recovery, boosting hopes for a five-percent growth in 2013 after suffering a slump last year.

“We have started to recover (this) June and July. The cause of deficiency in the first half was overstocking in the previous quarters. In fact, we are seeing about five-percent (growth) over last year,” said Francisco I. Ferrer, PhilExport trustee representing the electronics and semiconductor sector.

Ferrer said the appetite for electronics products is rising especially in Asian countries, bolstered by their high economic growth.

“So we (Asia) are really the focus of consumable companies. Europe is still not consuming as it used to, but (demand in) the United States has started to pick up in consumer products,” he noted.

Ferrer said the demand for wireless communication systems has grown significantly.

“Products, like computers, are not moving but the mobile phones are still very, very strong. We can also see some improvements in solar cells for power generation applications,” he said.

Ferrer added that automotive electronics also seem to be a growth market.  

The National Economic and Development Authority (NEDA) also expects export of semiconductors to improve in the remaining months of the year due to the anticipated increase in global demand.

Revenues from electronics products, the country’s top exports, posted a 5.2-percent contraction to $22.56 billion in 2012 from previous year’s $23.80 billion due to lower demand in key markets. – PhilExport News and Features