PH electronics exports slightly down in July

Electronics remained as the country’s top exporter for the month of July 2016 with total receipts of $2.4 billion, or 51.4 of the total Philippine exports of $4.673 billion, but it was 1.18 percent lower than the $2.429 billion worth of exports the previous month.

Six out of 9 sectors posted a negative growth from the previous month’s figures, led by consumer electronics at 57.87 percent from $88.62 million in June 2016 to $37.34 million this July.

The other sectors that recorded decreases were medical and instrumentation at 14.81 percent, and components and devices (semiconductors) at 0.98 percent.

On the other hand, office equipment increased by 56.59 percent from $6.88 million last June to $10.77 million this July. Other sectors that reported increases are office equipment at 38.04 percent, telecommunication at 29.21 percent, communication/radar at 11.18 percent, control and instrumentation at 5.67 percent, and electronic data processing at 1.21 percent.

Compared to July 2015, the country electronics exports also decreased by 14.82 percent from $2.818 billion to $2.4 billion in July this year.

Three sectors decreased from last year’s figures led by office equipment at 30.74 percent from $31.90 million last year to $22.10 million this year. The other sectors that registered decreases were components/devices (semiconductors) at 24.40 percent and consumer electronics at 18.43 percent.

Exports in the telecommunications sector also increased by 120.83, followed by communication/radar at 67.98 percent, control and instrumentation at 43.07 percent, electronic data processing at 18.59 percent, medical/ industrial instrumentation at 6.06 percent and automotive electronics at 0.04 percent.

On a year to date basis, exports decreased by 1.82 percent from $16.301 billion last year to $ 16.004 billion this year.

Four out of 9 sectors decreased led by office equipment with the biggest decrease at 45.4 percent from $366.1 million to $199.8 million. Other sectors that decreased are medical/industrial instrumentation at 36.9 percent, components/devices (semiconductors) at 6.0 percent, and control and instrumentation at 1.4 percent.

Conversely, telecommunications, communication/radar, automotive electronics, consumer electronics and electronic data processing went up.

Top export markets in July are Hong Kong, People’s Republic of China, US, Singapore, and Japan. (BCM)