Check out this extremely opposite fates of Philippine electronics, non-electronics

Electronics halved whereas non-electronics jumped 68%.

According to DBS, export data will be out tomorrow and its performance will hinge heavily on non-electronics shipments. In value terms, electronics exports have essentially halved since the peak of USD 3.5bn set in September 2010 on the back of weakening external demand.

Here's more from DBS:

In contrast, non-electronics manufactures have been elevated since April. In the four months ending July, non-electronics manufactures were up by 68% YoY. This has more than offset the 17% drop in electronics exports over the same time period.

The export outlook is going to be challenging in the coming months, but the resilience of non-electronics manufactures is proving to be a bright spot. We expect exports to post a double-digit YoY increase of 10.2% in August.

Based on the current export trajectory, it is conceivable for headline export growth to breach 20% in the final two months of the year, helped by very favorable base effects.

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