MANILA - Philippine exports of electronics and semiconductors, which make up more than half of total exports, will likely fall at least 15% this year, a smaller decline that previously estimated, an industry group said on Thursday.

The Semiconductor and Electronics Industries in the Philippines had previously expected these exports to fall 20% to 30%.

Arthur Young, chairman, told Reuters that electronics exports were expected to recover faster in the fourth quarter and to post growth from the same period of 2008.

"What we are seeing is a -15% to -20% for the year," Young said regarding the industry's exports. "Month to month since March, we've been seeing growth in the market."

Young said the change was due to restocking as inventories fell, adding it was too early to say if real demand was coming back.

He said more orders were coming from manufacturers of consumer electronics products mainly in China.