Sustained Growth Seen In Electronics Exports

The Department of Trade and Industry (DTI) expects to see sustained growth in the country’s electronics exports following the latest exports performance.

Photo Insert: Electronics remain the Philippines’ biggest export, accounting for 57.5% percent of total exports in May.

“The rebound in export sales for the first time since November last year could be attributed to the electronics exports which have picked up by 6.7 after plummeting since December last year,” Trade Secretary Alfredo Pascual said.

“This makes us optimistic that the slump has bottomed out and we can expect for sustained growth in electronics exports in line with our overall export growth target under the new Philippine Export Development Plan,” he said.

Data released by the Philippine Statistics Authority recently showed that the country’s merchandise exports rose by 1.9% to $6.44 billion in May from $6.32 billion in the same month last year.

Electronics remain the Philippines’ biggest export, accounting for 57.5% percent of total exports in May. The value of electronics exports rose to $3.70 billion in May from $3.47 billion in the same month last year.

The DTI said 12 out of 48 Philippine export commodity groups continued to drive the resurgence of the country’s export with consistent increases in export sales compared to 2022, 2021, 2020, and the pre-pandemic average from 2017 to 2019.

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