The electronics and semiconductor industry expects a 7-percent growth in exports this year after shipments fell by over 7 percent last year.
Data from the Philippine Statistics Authority showed electronics exports dropped 7.6 percent to $37 billion in 2020 from $40 billion in 2019. The rate of decline was slower than the 10.1-percent drop in total exports to $63.77 billion from $70.93 billion.
The Semiconductor and Electronics Industry of the Philippines Inc. said exports in December reached $3.9 billion, up 2.4 percent from November, while imports fell 9.1 percent to $2.3 billion from the previous month.
Total electronics imports in 2020 amounted to $25.95 billion, or 30.3 percent of total Philippine inbound shipments.
“The increase in exports is caused by the slow but steady economic recovery from the initial impact of the pandemic, which bodes well for the semiconductor and electronics industry that has a projected growth of 7 percent for 2021,” said SEIPI president Dan Lachica.
He said quarantine restrictions, the global pandemic and economic situation could affect the growth of the industry.
“This is why SEIPI is truly grateful for the assistance and quick responses of the various government agencies that we have had the pleasure to work with. Their assistance has been invaluable to the industry as we resume operations, while observing strict health protocols,” Lachica said.
The SEIPI said it continued advocating for the concerns of the industry, particularly the cap of P1 billion in investments for project approvals by the Philippine Economic Zone Authority. The group is also working to address the stringent standards in the water quality guidelines set by the Department of Environment and Natural Resources, the port and logistics issues, the entry of stranded expatriates and technical support for expansions and the provision of COVID-19 vaccines for the industry’s nearly 300,000 direct workers.
The SEIPI, together with De La Salle University-Laguna, is hoping to get funds for the development of the Science and Technology Center from the Department of Science and Technology-Philippine Council for Industry, Energy and Emerging Technology Research and Development.
The group also worked with the Philippine Red Cross and the Kaya Natin Foundation through the Office of the Vice President to donate over P2.7 million for victims of the recent typhoons that ravaged the country. This was on top of the P435,000 raised for the victims of the Taal Volcano eruption and the P41 million in cash and support for COVID frontliners.