The Philippines’ electronics export achieved a record high last year, 2021.
In a statement, the Semiconductor and Electronics Industries in the Philippines Foundation Inc. (SEIPI) said that the country’s overall electronics export reached USD45.92 billion in 2021, that’s about Php2.3 trillion when directly converted.
That figure is 12.9% higher than the 2020’s adjusted USD40.67 billion (around Php2 trillion).
The 2021’s increase in exports is also higher than SEIPI’s expectations, which is only at 10%.
As per Dan Lachica, SEIPI president, the key drivers for the demand include technologies used in artificial intelligence (AI), Internet of Things (IoT), telemedicine, work from home tech, and more.
The biggest gainers last year are the telecommunications industry, which grew by 138%. It’s followed by the medical/industrial instrumentation at 37.49%, electronic data processing at 29.51%, consumer electronics at 19.45%, office equipment at 19.31%, control and instrumentation at 12.92%, and components/devices/semiconductors at 7.37%.
A lot of the Philippines’ electronics exports went to the United States, Hong Kong, Singapore, Japan, and China.
For 2022, the SEIPI forecasts a 10% growth for electronics exports. Glenn Everett, SEIPI chairman, said that the projection depends on the supply chain, improvements in logistics flows, the health of the population, and the reopening of the country.
The SEIPI chairman is hopeful that the Philippines’ semicon and electronics industry will gain new investments as new technologies emerge.
Via: PhilStar