PH exported record value of electronics last year

The value of the country’s electronics exports reached $49.09 billion in 2022, beating the previous year’s record high and continuing its ascent after a $4 billion decline during the global outbreak of the coronavirus pandemic.

The Semiconductor and Electronics Industries in the Philippines Foundation Inc. (SEIPI) on Wednesday said it shipped out this much electronics last year, a growth equivalent to 6.88 percent.

“Our industry, together with its three million direct and indirect workers and opportunities brought by the developments in the global industry, remains as a significant driver of economic growth that can support our country in sustaining its growth momentum,” SEIPI said in a statement.

In 2021, SEIPI recorded $45.92 billion worth of exports, growing by 12.9 percent from the previous years $40.67 billion.

The trade group recorded $43.32 billion in 2019, $37.57 billion in 2018 and $36.5 billion worth of exports in 2017.

Earlier in January, SEIPI president Danilo Lachica said they are looking to grow by nearly 9 percent amid continued demand in the global market remaining to be a growth driver.

Lachica had cited two specific challenges for the domestic electronics sector in 2023, highlighting, first, the difficulties posed by the Philippine government’s policy on workfrom-home for firms registered under its incentives system.

He had also voiced his concern for their exclusion in the government’s plan for firms registered under the Philippine Economic Zone Authority, where it allowed those enterprises to adopt work-from-home arrangements while still enjoying government incentives.

“Unfortunately, maybe I was naive to think that they will also extend [the policy] for exporters. It’s just very disappointing that they did not include us,” Lachica said back then.

“They have this wrong idea that because we are into manufacturing, no one works from home and that everyone is at the production line, which is really not true,” he added.

Lachica also told the Inquirer that it might be too early for the local industry to feel the effects of Regional Comprehensive Economic Partnership this year.