Press Release
February 12, 2010


Senator Edgardo J. Angara, chair of the Senate Committee of Science and Technology and Congressional Commission on Science & Technology and Engineering (COMSTE), underscored the need to re-invigorate the local semiconductor and electronics sector in order to boost the country's export performance.

"We have to take advantage of the increasing demand for electronics products around the world by investing in R&D in order to improve the country's capability to innovate and by providing infrastructure support to our homegrown sector," Angara stressed.

Angara noted that the semiconductor industry remains the country's biggest export industry accounting for 56.9 percent of the total export revenues this month. However, Angara was dismayed by the report that the country's exports plunged by 21.9 percent to $38.33 billion in 2009 from $49.078 billion in 2008 as demand for locally-made products declined substantially.

"The production of highly-innovative products such as green electronics, biomedical devices and systems, and chip designs will definitely boost the export potential of the country," he said.

The United States remained the Philippines' top export destination, buying $627.86 million worth of goods. This was 9.4 percent higher than the $573.98-million recorded in December 2008.

Japan came in second with $507.46 million, followed by the Netherlands ($295.24 million), Singapore ($283.19 million), and Germany ($245.18 million).

Philippine exports started to slow down in September 2008 and had since posted contractions. They recovered only in November last year, with a revised growth of 5.7 percent.

The government is currently looking at seven to nine percent growth in the country's exports for 2010.

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