PH electronic exports projected to hit $110 billion by 2030

Philippine electronic exports are projected to reach $110 billion by 2030, driven by increasing demand for new technologies and products, according to the Semiconductor and Electronics Industries in the Philippines Foundation Inc. (SEIPI).

SEIPI president Dan Lachica expressed optimism about reaching this target, citing favorable external factors.

Semiconductors are expected to contribute $70 billion to the total projected exports, with other electronic products making up the remaining $40 billion.

These figures align with the 2030 targets established in the roadmap for the country's semiconductor and electronics industry, announced earlier this year.

While SEIPI forecasts flat growth for the industry this year, Lachica noted that electronics exports could still see modest growth based on recent encouraging developments.

Data from the Philippine Statistics Authority reveals that from January to August, the country's electronics exports increased by seven percent, reaching $29.48 billion compared to $27.45 billion during the same period last year.

Lachica stated that if the current trend continues, the year-to-date numbers suggest the industry might meet or even surpass its 2023 performance.