{"id":152651,"date":"2018-02-13T03:11:55","date_gmt":"2018-02-13T08:11:55","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=152651"},"modified":"2018-02-13T03:11:55","modified_gmt":"2018-02-13T08:11:55","slug":"ph-electronics-sector-posts-record-usd32-7-b-export-in-2017","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/02\/13\/ph-electronics-sector-posts-record-usd32-7-b-export-in-2017\/","title":{"rendered":"PH electronics sector posts record USD32.7-B export in 2017"},"content":{"rendered":"
\"The<\/a>
The country\u2019s electronics sector posted a record export revenue of over USD32 billion in 2017, regaining its strength after the market slowed down in the past six years. (Photo<\/a> by Marlon E\/Flickr<\/a>, CC BY-SA 2.0<\/a>)<\/figcaption><\/figure>\n

MANILA — The country\u2019s electronics sector posted a record export revenue of over USD32 billion in 2017, regaining its strength after the market slowed down in the past six years.<\/p>\n

Semiconductor and Electronics Industries of the Philippines Foundation Inc. (SEIPI) reported that electronics export revenues surged by 11 percent to USD32.7 billion last year from USD29.4 billion revenues in 2016.<\/p>\n

In a briefing Tuesday, SEIPI President Dan Lachica said the sector went back to the USD30-billion export value level after the market declined in 2011 until 2016.<\/p>\n

Lachica said the country posted the USD30-billion level export revenues for electronic goods in 2007 and 2010.<\/p>\n

Semiconductor still shared the highest exports at USD23.74 billion last year, growing by 12.17 percent from 2016\u2019s revenue of USD21.16 billion.<\/p>\n

Exports of electronic goods, such as electronic data processing, office equipment, consumer electronics, communication\/radar, and control and instrumentation, registered positive growth in 2017, while revenues of telecommunication electronics, medical\/industrial instrumentation and automotive electronics declined in the previous year.<\/p>\n

Despite the robust growth in 2017, the industry set this year\u2019s target exports expansion at conservative growth of 6 percent, following the lower-end of the global electronics market growth forecast of 6 to 8 percent for 2018.<\/p>\n

Lachica said the 6-percent growth this year is also realistic coming from a bigger base in 2017.<\/p>\n

To further strengthen the growth of the electronics sector, SEIPI is launching this year its industry roadmap called Product and Technology Holistic Strategy (PATHS).<\/p>\n

PATHS aims to diversify the country\u2019s electronics exports from manufactured electronic goods to service-oriented electronics exports, such as integrated circuits design and research and development.<\/p>\n

With the new roadmap, the industry targets revenues of USD40 billion and USD50 billion in 2025 and 2030, respectively.<\/p>\n

To support the revenue goals, SEIPI aims for the country to attract additional investments of USD1.5 billion to the industry by 2020, USD3 billion in 2025, and USD5 billion in 2030.<\/p>\n

Lachica estimated the industry had less than USD1 billion new investments last year.<\/p>\n

\u201cThe key is bringing in new technology,\u201d he said.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

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