RISING global fuel prices resulting from unrest in Northern Africa and the Middle East are jacking up the costs of local electronics exporters, according to the Semiconductor and Electronics Industries in the Philippines Inc. (SEIPI).
In a press conference, Dan Lachica, SEIPI chairman, on Friday said that prices of raw materials have risen by a tenth since tensions in the Middle East began. Raw material costs comprise up to 70 percent of semiconductor and electronics exporters’ costs, he said.
But Philippine-based electronics firms don’t export to the Middle East so they are far from the risk of potential losses because of the upheaval there, said Ernesto Santiago, SEIPI president.
Latest government data showed that electronics exports in January reached $2.142 billion, up 5.31 percent year-on-year but down 5.05 percent month-on-month.
Electronics accounted for about 61 percent of total Philippine exports.
Semiconductor and electronics exports this year are expected to grow by a tenth to about $34 billion from the highest-ever $31.1 billion posted last year.
The six-year industry roadmap targets $50-billion worth of exports by 2016. –Ben Arnold O. De Vera, Reporter, Manila Times
Short URL: http://www.manilatimes.net/?p=7335
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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