APRIL 2023 PHILIPPINE ELECTRONICS EXPORT PERFORMANCE
Electronics exports declined by 23.32% in April 2023 to US$ 2.94 billion, or 59.92% of the US$ 4.90 billion in total Philippine exports.
A. PH Electronics Exports: (Month-on-Month)
Fig. 1: PH Electronics Exports (March 2023 vs April 2023)
Electronics exports contracted from US$ 3.83 billion in March 2023 to US$ 2.94 billion in April 2023, as shown in Fig. 1.
Exports in eight (8) sectors decreased as shown in Table 2. The biggest reduction was with Consumer Electronics at 36.11%, from US$ 104.13 million to US$ 66.53 million, followed by Telecommunication (33.53%), Electronic Data Processing (27.30%), Control and Instrumentation (25.44%), Semiconductor Components/Devices (22.62%), Communication/Radar (17.79%), Automotive Electronics (4.42%), Medical/Industrial Instrumentation (3.19%). Please see Table 2.
Only Office Equipment increased by 10.03%, from US$ 29.04 million to US$ 31.96 million.
B. PH Electronics Exports: (Year-on-Year)
The Philippine Electronics exports reduced by 15.90%, from US$ 3.49 billion in April 2022 to US$ 2.94 billion in April 2023, as shown in Fig. 2.
Exports in six (6) sectors went down, led by Automotive Electronics at 64.43%, from US$ 8.25 million to US$ 2.94 million. It was followed by Office Equipment (45.27%), Telecommunication (43.77%), Electronic Data Processing (39.26%), Semiconductor Components/Devices (14.47%), and Control and Instrumentation (7.02%).
Medical/Industrial Instrumentation increased the most at 54.17%, from US$ 14.59 million to US$ 22.49 million. This was followed by Communication/Radar (52.26%), and Consumer Electronics (21.89%). Kindly refer to Table 2.
Fig. 2: PH Electronics Exports (April 2022 vs April 2023)
C. PH Electronics Exports (Year-to-Date)
Fig. 3: PH Electronics Exports (January – April 2022 vs. January – April
Year-to-date electronics exports decreased by 15.44%, from US$ 15.26 billion in 2022 to US$ 12.90 billion in 2023, equivalent to 59.27% of the total Philippine exports. Please see Fig. 3.
Exports from six (6) sectors declined from last year’s YTD figures, led by Automotive Electronics at 73.11%, from US$ 45.17 million to US$ 12.14 million. This was followed by Office Equipment (45.58%), Electronic Data Processing (30.23%), Telecommunication (24.83%), Semiconductor Components/Devices (16.17%), and Control and Instrumentation (0.28%). Please see Table 3.
Meanwhile, the export of Consumer Electronics gained 17.70%, from US$ 284.99 million to US$ 335.42 million. This was followed by Medical/Industrial Instrumentation (17.66%), and Communication/Radar (10.02%).
COUNTRIES OF DESTINATION APRIL 2023
Table 1 shows the top five (5) export destinations in March 2023, namely, Hong Kong (17.48%), China (13.15%), the USA (10.90%), Singapore (8.37%), and Japan (6.43%).
Table 1: Top 5 Destination Countries for Electronics (March 2023 vs April 2023)
The other destinations in the top ten were Germany (5.66%), South Korea (4.29%), Taiwan (4.28%), the Netherlands (4.17%), and Thailand (3.31%).
Fig. 4: Top Exported Products, April 2023
The top exported electronics products in April 2023 are in Fig. 4. Integrated circuits bound for Thailand decreased the most by 66.06%. See Table 4.
Table 2: PH Electronics Exports Product by Sector (Month-on-Month and Year-on-Year)
Table 3: PH Top Electronics Export Products by Sector (Year-to-date)
Table 4: PH Top Electronics Export Products and Countries of Destination
