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HomeCustoms & TradeSemiconductor exports up 6.8% in May

Semiconductor exports up 6.8% in May

SEMICONDUCTOR exports grew 6.8% to $1.55 billion in May, up from the $1.45 billion registered for the same period last year.Figures from the Semiconductor Industry Association (SIA) showed that Philippine exports outpaced global sales which expanded 4%.

The trade department said the rise in semiconductor imports as well as the rise on garments and textile imports mitigated a fall in merchandise exports.Exports of garments and textiles posted a year-on-year growth of 7.62% during the same period.SIA projects global sales to grow 6% in 2005 and 9.8% annually through 2008. It said the growth will be driven mainly by the demand for personal computers and wireless handsets.

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