RP electronics set to grow 10%

RP electronics set to grow 10%

MANILA: Philippine electronics exports are expected to grow 10 percent in fiscal 2003 from a year earlier to US$26 billion despite a decline in global demand for microchips and wireless products, an industry grouping said on Saturday.

The semiconductor and electronics data processing sectors, the two major electronics exports segments, however, "are experiencing difficult times," the Semiconductor and Electronics Industries in the Philippines (SEIPI) said.

Semiconductors, which account for 71 percent of total Philippine electronics exports, recorded a mere 2.16 percent growth in April from a year ago, while the data-processing sector fell 12.19 percent year-on-year, it said.

"The major semiconductor products are digital signal processors (dsp) and microprocessors. The DSP market is affected by a decline in global demand for wireless products," the group said.

"The microprocessor market is affected by the delay in the replacement of personal computers by consumers," it added, noting that a global weakness in economies has forced many households to hold on to three-to-four year-old PCs. -- AFP