Philippine '08 electronics exports seen down 5-8 pct

Published: 09 Dec 2008 18:31:45 PST

MANILA, Dec 10 - Philippine exports of electronic goods, a major driver of the country's overall exports, are expected to fall 5 to 8 percent this year from 2007 on falling demand due to a global slowdown, the head of an industry group said on Wednesday.

Electronics exports, accounting for about three-fifths of total shipments from the Philippines, would contract further by about 8 to 10 percent in 2009, Arthur Young, chairman of the Semiconductor and Electronics Industries in the Philippines Inc (SEIPI), told Reuters.

Philippine exports fell 14.9 percent in October from a year earlier, the biggest decline since December 2001, with electronics shipments falling 18.9 percent during the month.