Majority of electronics exports reported increased sales in the first quarter of 2020 despite the COVID-19 pandemic, data from the Philippine Statistics Authority show.
Automotive exports jumped 79 percent to $57.4 million from $32.1 million in the three-month period, while consumer electronics surged 40.9 percent to $201.9 million. Office equipment increased 20.9 percent to $133.2 million.
Control and instrumentation rose 7.9 percent to $117 million, while medical/industrial instrumentation, gained 7.5 percent to $31.5 million. Exports of semiconductors were up 0.5 percent to $6.5 billion.
The combined gains posted by the six sub-sectors, however, were not enough to offset the losses in the sub-sectors that declined, namely electronic data processing, communication and radar, and telecommunication.
Overall exports of electronics as a result fell 2.5 percent to $8.6 billion in the first quarter from $8.8 billion year-on-year, reversing the gains recorded in the first two months.
“We are saddened but not surprised. We are studying the global market to help Philippine exports respond to the changing demands brought about by the COVID-19 pandemic. Due to the travel constraints, we recommend exporters to explore online market spaces as a strategy even after the pandemic,” said Trade Exporter Marketing Bureau director Senen Perlada.
Total Philippine merchandise exports dropped 24.9 percent in March to $4.5 billion from $6 billion in the same month last year, after posting growths in January and February.
The March figure brought export sales in the first three months to $15.7billion, down 5.2 percent from $16.6 billion a year ago.
Electronics comprised 54.7 percent of the total value of Philippine merchandise exports, while non-electronics made up the rest of 45.3 percent.
The negative showing was a result of the double-digit decreases in the export sales of 9 of the top 10 major export commodities. Among these were metal components, down 40.9 percent; machinery and transport equipment, -33.1 percent; electronic products -24 percent; ignition wiring, -22.9 percent; and coconut oil, -22.2 percent.
Meanwhile, after the positive showing in the first two months, sales of non-electronics declining 8.1 percent to $7.1 billion in the first quarter from $7.8 billion in the same period last year.