SEIPI: Outlook dims for electronics exports

The outlook for the country’s electronics exports this year is at risk amid the United States’ move to impose higher tariffs on Philippine goods, according to the Semiconductor and Electronics Industries in the Philippines Foundation Inc. SEIPI).

- By Louella Desiderio

In an interview on "Money Talks" on One News yesterday, SEIPI president Dan Lachica said the group initially projected a flat growth for the country's electronics exports from $42.6 billion last year.

"But we've seen some upticks and that caused some optimism. Personally, I thought that we might hit the 2023 levels of $46 billion, but these tariff developments have been disappointing and that might just temper our optimistic projections," Lachica said.

Data from the Philippine Statistics Authority showed that the country's exports of electronics products from January to May went up slightly to $17.8 billion from $17.6 billion in the same period last year.

US President Donald Trump said in a letter to President Marcos that Philippine goods would be imposed a 20-percent tariff starting Aug. 1.