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
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May –
Anti-Graft and Corruption Awareness Month
“Corruption drains the nation
and victimizes workers who build the nation.
Accountability now!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
May 1 – Labor Day
May 2 – World Freedom Day
May 12 – World Communication Day
May 15 – International Day of Families
May 16 – International Day of Living
Together in Peace
May 21 – World Day for Cultural Diversity
for Dialogue and Development
Monthly Observances:
The Month of the Ocean
Anti-Graft and Corruption Awareness Month
Volunteerism Month
Weekly Observances:
Week 2: Safe Motherhood Week
Daily Observances:
May 1: Labor Day
May 7: Health Worker’s Day
May 31: National Fisherfolks Day
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