The export of electronic products is expected to rebound in 2025, the Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) said on Thursday.
SEIPI President Dan Lachica told reporters at the sidelines of the 13th Arangkada Philippines Forum in Pasay that SEIPI is projecting a 5-percent growth in electronics exports next year.
This will be a turnaround from the projected 10-percent contraction in electronics exports this year.
Last year, exports of electronic products amounted to USD41.91 billion.
Lachica said inventory correction and new expansion will help boost exports growth next year.
“Well, like I said before, the inventory correction, we’re working on that and hopefully again with the initiatives of the government to promote investments, we’re looking for new products, new expansions for the coming year,” he said.
Preliminary data from the Philippine Statistics Authority showed that exports of electronic products amounted to USD27.4 billion in January to August this year, up by 1 percent from the USD27.18 billion in the same period last year. (PNA)
