* Philippine electronics exports to post no growth in 2012
* Electronics exports growth in 2013 seen at 5-6 pct
(Adds quotes, background)
MANILA Dec 11 Philippine electronics exports
will likely post no growth this year due to sluggish global
demand, but a recovery is expected in 2013 as the sector
realises gains from investments made this year, an electronics
industry group said on Tuesday.
The Semiconductor and Electronics Industries in the
Philippines (SEIPI) forecast electronics exports this year will
only match the value of 2011's performance, and not post growth
of 5 percent to 7 percent as previously thought.
But the sector will likely perform better next year as the
industry group projects 5 percent to 6 percent growth for
electronics and semiconductor exports, which make up about half
of the Philippines' total shipments.
In 2011, the country shipped nearly $24 billion worth of
electronics and semiconductor goods, down nearly 24 percent from
the previous year's $31.1 billion.
Total electronics exports in the 10 months to October
totalled 19.32 billion pesos, down 6.6 percent from a year
"The heightened global uncertainty, a depressed export
market, weak consumer electronics demand, and a generally poor
global economic climate, and high cost of power and strong peso
brought the industry to a flat growth for 2012," Ernesto
Santiago, president of SEIPI, said in a statement.
Santiago said the more optimistic outlook for 2013 can be
attributed to new plant facility transfers of some electronics
companies in the Philippines and investments made during the
year which will be mostly operational by next year.
SEIPI, which encompasses more than 200 semiconductors and
electronics manufacturers including units of Samsung Electronics
and Texas Instruments, initially forecast 10
percent to 15 percent growth in 2012, which it later lowered to
5 percent to 7 percent.
The Philippines, which imports electronic parts and inputs
for assembly for export later, provides about 10 percent of the
world's semiconductor manufacturing services, including for
mobile phone chips and micro processors.
Manila, which is targeting growth of 5 percent to 6 percent
this year and 6 percent to 7 percent next year, is optimistic
that any slowdown in exports would be offset by strong domestic
consumption and higher state spending on infrastructure.
The Philippine central bank lowered its exports and imports
growth forecast for the year to 8 percent and 7 percent,
respectively, from previous estimates of 10 percent and 12
(Reporting by Karen Lema; Editing by Jacqueline Wong)