Electronics imports up by 33%

MANILA, Nov 25 (PNA) — Inbound shipment of electronic goods in the first nine months of the year increased by 33.2 percent to USD14.61 billion from the same period last year at USD10.97 billion, the Philippine Statistics Authority (PSA) reported on Wednesday.

Electronics had the largest contribution to imports bill from the period January-to-September, sharing 29 percent of the total imports which amounted to USD49.91 billion.

The increase in imports was backed by double-digit growth in seven out of nine electronics sub-sectors.

The growth was led by office equipment electronics with imports surging by 56 percent to USD99.4 million in January to September 2015 from USD63.72 million in the same period in 2014.

This was followed by telecommunications electronics with inbound shipment of USD950.27 million which went up by 44 percent this year from USD661.96 million in the previous year.

Imports of semiconductors increased by 36 percent to USD11.42 billion in the first nine months of 2015, accounting for largest imports bill in electronics industry, from USD8.41 billion in the same period in 2014.

Inbound shipments of communication and radar increased by 22 percent to USD452.23 million; control and instrumentation, up by 19 percent to USD133.64 million; electronic data processing, up by 17 percent to USD1.16 billion; medical and industrial instrumentation, up by 15 percent to USD81.42 million; consumer electronics, up by 10 percent to USD296.75 million; and automotive electronics, up by 5.0 percent to USD15.56 million. (PNA)