Electronic exports may drop below 10% this year - SEIPI

Electronic exports are seen contracting by single digit this year with companies putting off the introduction of new products and technologies, according to an industry group.

- LOUELLA DESIDERIO

Dan Lachica, president of the Semiconductor and Electronics Industries in the Philippines Foundation Inc. (SEIPI), said the country's electronic exports could post a contraction below 10 percent this year.

In 2023, the Philippines electronic exports were valued at $41.91 billion.

Latest data from the Philippine Statistics Authority showed electronic products remained the country's top export from January to July, rising by 2.5 percent to $23.88 billion from $23.3 billion in the same period last year.