THE SEMICONDUCTOR and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) said that it expects electronics exports to be flat after a sharp decline in the first semester.
“We have revised our export growth forecast from 5% for the year to flat, zero because realistically we’re down 7% (in the first six months). But we see a recovery in the third and fourth quarters. So that’s why we’re aiming for at least flat,” SEIPI President Danilo C. Lachica told reporters.
SEIPI data showed total electronics exports fell by 7% to $21.19 billion in the January-to-June period from $22.78 billion in the same period in 2022.