SEIPI sees double-digit growth in electronic exports this year

PHILIPPINE EXPORTS of semiconductor and electronic products are projected to grow by double digits this year to $48 billion, the Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) said.   

“We’re poised to have double-digit growth, $48 billion. I’m not saying it’s a slam dunk, but we’re on that trajectory. And that’s higher than 2024, and hopefully comparable to 2023 levels,” SEIPI President Danilo C. Lachica told reporters.

In 2024, the Philippines exported $39.1 billion of electronic products, down 6.7% from $41.91 billion a year prior.

If the $48-billion projection is to be realized, it would represent an almost 23% growth from last year’s total. The growth would be faster than SEIPI’s 5-7% growth estimate last month.

Mr. Lachica said the optimism is driven by higher demand for semiconductors and electronics for artificial intelligence, internet of things, electric vehicles, among others.

According to preliminary data from the Philippine Statistics Authority, exports of electronic products surged 50.6% in November to $4.19 billion from $2.78 billion a year ago. Electronics remained the top export category, accounting for 60.7% of the country’s total exports.

The November surge brought year-to-date exports of electronic products to $41.81 billion, up 15.5% from $36.28 billion in the same period last year. Semiconductor exports alone rose 15.7% to $31.51 billion from $27.24 billion during the same period.

To further strengthen the industry, SEIPI is urging the government to implement the Philippine Semiconductor and Electronics Industry Roadmap.

The roadmap aims to grow the country’s semiconductor and electronics industry’s exports to $110 billion by 2030, roughly 2.5 times its current size. It targets $70 billion in semiconductor packaging and $40 billion in assembled electronics and integrated circuit design services.

“I do hope what the Department of Trade and Industry does is to implement the semiconductor electronics roadmap. It’s been almost a year. It hasn’t been implemented yet,” Mr. Lachica said.

SEIPI is also seeking government support for a semiconductor front-end wafer laboratory, a research facility that would allow the country to develop prototype wafers and circuits and build capabilities in advanced semiconductor manufacturing.

“Hopefully, they can also help fund the semiconductor front-end wafer lab, which we proposed to the Department of Science and Technology, which, up to now, hasn’t been approved yet,” Mr. Lachica said. — Vonn Andrei E. Villamiel