October 10, 2003 – Philippine exports were basically flat in August, compared with expectations of a 5% increase, due in part to a slide in electronics exports.

Most segments of the nation’s electronics exports were up except semiconductor exports, which were down 4.6% for the month.

“There is still hope that the original target will be met,” said trade and industry secretary Manuel Roxas II, but “we need to put our acts together if we want to make our electronics industry continue to be vibrant.”

Exports to the US, Taiwan, and Singapore continued to decline, blamed on increased competition from China.