The Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) is excited to announce an anticipated 5% growth in semiconductor exports for 2025. This positive projection comes despite current challenges, highlighting the resilience of the sector and its critical role in global trade. SEIPI President Danilo C. Lachica shared insights during the 13th Arangkada Philippines Forum 2024, emphasizing the sector’s potential for recovery.

 

While the industry is expected to see a 10% contraction this year, the outlook for the next year is bright, driven by inventory corrections and the launch of innovative products. “With the government’s strong focus on promoting investments, we are optimistic about introducing new products and expanding our reach in the coming year,” Lachica stated.

 

SEIPI recently held a fourth-quarter meeting and has plans for another session in the first quarter of 2025 to further affirm their growth outlook. Although there are challenges ahead, the board remains confident that the semiconductor sector will rebound and contribute significantly to the Philippine economy.

 

According to the Philippine Statistics Authority, electronic products continue to be a cornerstone of the country’s export portfolio, representing 52.9% of total exports valued at $3.57 billion in August. Despite a slight decline of 8.2% from the previous year, total electronic exports reached $27.45 billion from January to August 2024, reflecting a 1% increase compared to the same period last year. Semiconductors play a vital role in this landscape, making up 76.6% of electronics exports, valued at $21.04 billion.

 

The Department of Trade and Industry remains optimistic, projecting that Philippine exports will exceed targets outlined in the Philippine Development Plan (PDP) for 2023-2028. The Philippine Export Development Plan (PEDP) sets an ambitious merchandise and services export goal of $143.4 billion for 2024, showcasing the country’s commitment to enhancing its position in the global trade arena.

 

With the recent upward adjustment of merchandise export growth projections from 3% to 5%, driven by a strong first-quarter performance and a positive global semiconductor outlook, the Philippines is poised for a dynamic and prosperous future in trade.

 

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