The Market Monitor Minding the Nation's Business
The Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) announced on Thursday that electronic product exports are anticipated to rebound in 2025.
During the 13th Arangkada Philippines Forum in Pasay, SEIPI President Dan Lachica shared that the organization is forecasting a 5% increase in electronics exports for next year, marking a significant shift from the expected 10% decline in exports this year.
In 2022, electronic product exports totaled USD 41.91 billion.
Lachica attributed the anticipated growth to inventory corrections and ongoing expansions in the industry. “As I mentioned previously, we are actively addressing the inventory correction issue, and with government initiatives aimed at promoting investments, we are optimistic about launching new products and expanding operations in the coming year,” he explained.
Preliminary data from the Philippine Statistics Authority indicated that electronic product exports reached USD 27.4 billion from January to August this year, reflecting a 1% increase compared to USD 27.18 billion during the same period last year.