In terms of global sales of high-tech goods and components in the wake of the financial crisis, the Philippines and other Asian exporters have continued to grab market from the West. The country leapfrogged over developed economies Ireland and Sweden to 17th place in the 2009 export sales rankings for the information and communication technology or ICT goods, data from the UN Commission on Trade and Development showed. For their manufacturing sites, the trend could continuous as multinational firms increasingly look to Asia.
Base to UNCTAD data, the Philippines sold $13.997 billion worth of ICT goods in 2009, down 7% from 2008 however still managing to grow its market share to 1% from 0.92%. The performance tracked that of Asian economies in general which accounted for 66.3% of 2009 global ICT exports.
The UNCTAD said that the supports recent finding that the global financial crisis has led to significant shifts in world trade of ICT goods towards Asia. The seven of the top ten exporters are Asian economies. The shift came as a decline in ICT export sales in the West became much more pronounced.
For instance, the ICT exports dropped by more than half in Portugal and Finland, by 36% in Ireland and by more than 20% in the Czech Republic, Germany, France and Sweden. The United States and Japan also saw sharp declines.
Ernesto B. Santiago, SEIPI President said that the Philippines lead could have widened in 2010 as its electronics exports sales urged while the rebound in the West was weaker. SEIPI also said that sales could have grown by at least 39% to over $31 billion and grow by another 10% in 2011. The increase in several Western countries was slower. He said that they were stronger than them. The Asia become the primary destination for manufacturing. The companies are revisiting their strategies.
REFERENCE:
http://www.abs-cbnnews.com/business/02/03/11/philippines-gets-larger-share-ict-exports-pie
http://www.accessmylibrary.com/article-1G1-248390920/philippines-gets-larger-share.html
http://www.bworldonline.com/content.php?title=Philippines%20gets%20larger%20share%20of%20ICT%20exports%20pie&id=25766
