THE Semiconductor and Electronics Industries in the Philippines Foundation Inc. is keeping its 5-percent growth target for 2023 despite the 15.29-percent decline in electronics exports in the first quarter of 2023.
Data from the SEIPI website showed that from January to March 2023, electronics exports declined by 15.29 percent, from US$11.77 billion in 2022 to US$9.97 billion in 2023.Data from SEIPI, the major organization of foreign and Filipino electronics companies in the Philippines, showed exports from five sectors decreased from last year’s first-quarter figures or from January to March 2022.
Meanwhile, the export of Consumer Electronics gained 16.71 percent, from US$230.41 million to US$ 268.92 million. This was followed by Medical/Industrial Instrumentation with 9.39 percent, Control and Instrumentation with 1.90 percent and Communication/Radar with 1.53 percent.
Source: News Formal (newsformal.com)
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