Seipi: Electronic exports, imports grew in Jan-May
EARNINGS from electronic exports and imports continued to increase in the first five months of 2018, rising by 3.1 percent and 13.14 percent, respectively, from amounts posted in the same period last year, the Semiconductor and Electronics Industries in the Philippines Foundation Inc. (Seipi) said.
According to data on the group’s website, exports grew to $14.88 billion (P794.89 billion) in January to May from $14.14 billion (P771.38 billion) a year ago. Imports surged to $11.13 billion (P594.56 billion) from $9.84 billion (P525.65 billion) in 2017.
Seven sectors saw exports surge in the period. These are consumer electronics, by 33 percent to $187.42 million (P10.01 billion) from $140.96 million (P7.53 billion); office equipment, 6.7 percent to $342.43 million (P18.29 billion) from $270.18 million (P14.43 billion); control and instrumentation, 19 percent to $386.34 million (P20.64 billion) from $324.53 million (P17.34 billion); telecommunication, 15.2 percent to $248.54 million (P15.2 billion) from $247.05 million (P13.2 billion); electronic data processing, 2.5 percent to $2.46 billion (P131.41 billion) from $2.4 billion (P128.21 billion); semiconductors, 2.1 percent to $10.91 billion (P582.81 billion) from $10.68 billion (P570.53 billion); and automotive electronics, 0.4 percent to $42.32 million (P2.26 billion) from $42.14 million (P2.25 billion).
Two sectors—communication radar and industrial instrumentation—declined by 20.4 percent and 12.5 percent, respectively.
For May alone, exports expanded by 2.29 percent to $3.13 billion (P167.20 billion) from $3.06 billion (P163.47 billion).
Telecommunication exports led the growth, rising by 104.01 percent to $61.93 million (P3.31 billion) from $30.36 million (P1.62 billion) in May 2017. Consumer electronics soared by 95.56 percent; office equipment, 50.16 percent; communication/radar, 13.65 percent; and control and instrumentation, 13.2 percent.
Automotive electronics fell in the month by 51.56 percent; medical/industrial instrumentation, 16.81 percent; electronic data processing, 4.48 percent; and components/devices or semiconductors, 0.09 percent.
“Top five countries of destination during the period were Hong Kong (20.58 percent), the United States (14.10 percent), China (12.28 percent), Singapore (9.24 percent) and Japan (6.56 percent),” Seipi said.
“Other destinations in the Top 10 were Germany, Taiwan, Netherlands, Thailand, and Malaysia,” it added.
Telecommunication on top
Telecommunication imports increased by 49.65 percent to $682.26 million (P36.45 billion) in January to May from $455.92 million (P24.36 billion) last year.
Office equipment also rose by 36.09 percent; automotive electronics, 28.83 percent; communication, 23.16 percent; control and instrumentation, 23.10 percent; consumer electronics, 18.72 percent; semiconductors, 11.40 percent; and electronic data processing, 2.13 percent.
Medical/industrial instrumentation decreased by 3.9 percent.
For May, electronic imports increased by 16.08 percent to $2.36 billion (P126.07 billion) from $2.03 billion (P108.44 billion) the year before; and office equipment, by 137.79 percent to $26.60 million (P1.42 billion) from $11.19 million (P597.77 million).
The remaining sectors also recorded growth, except medical/industrial instrumentation, which fell by 18.99 percent to $14.53 million (P776.19 million) from $17.94 million (P958.35 million).
Top five countries of origin for the month were South Korea, China, Taiwan, Japan, and Singapore.
First established as the Semiconductor Electronics Industry Foundation Inc. (Seifi) in October 1984, Seipi is the largest organization of Filipino and foreign electronics companies in the country.
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