AUGUST 2023 PHILIPPINE ELECTRONICS EXPORT PERFORMANCE

Electronics exports rose by 6.63% in August 2023 to US$ 4.21 billion, or 62.86% of the US$ 6.70 billion in total Philippine exports.

A. PH Electronics Exports:  (Month-on-Month)

 

Fig. 1: PH Electronics Exports (July 2023 vs August 2023)

Electronics exports improved from US$ 3.95 billion in July 2023 to US$ 4.21 billion in August 2023, as shown in Fig. 1.

 

Exports in eight (8) sectors increased as shown in Table 2. This was led by Automotive Electronics at 53.99%, from US$ 2.49 million to US$ 3.83 million, followed by Electronic Data Processing (34.95%), Telecommunication (29.08%), Medical/Industrial Instrumentation (6.33%), Control and Instrumentation (4.66%), Communication/Radar (4.56%), Semiconductor Components/Devices (3.10%), and Consumer Electronics (0.0004%). Please see Table 2.

 

Meanwhile, Office Equipment decreased by 4.39%, from US$ 32.40 million to US$ 30.98 million.

B. PH Electronics Exports: (Year-on-Year

The Philippine Electronics exports went up by 5.91%, from US$ 3.98 billion in August 2022 to US$ 4.21 billion in August 2023, as shown in Fig. 2.

 

Exports in five (5) sectors increased, led by Medical/Industrial Instrumentation at 48.61%, from US$ 16.00 million to US$ 23.78 million. It was followed by Telecommunication (26.48%), Communication/Radar (20.22%), Semiconductor Components/Devices (14.00%), and Office Equipment (10.65%).

 

Automotive Electronics decreased the most at 32.08%, from US$ 5.64 million to US$ 3.83 million. This was followed by Electronic Data Processing (30.87%), Consumer Electronics (5.40%), and Control and Instrumentation (2.44%). Kindly refer to Table 2.

Fig. 2: PH Electronics Exports (August 2022 vs August 2023)

 

C. PH Electronics Exports (Year-to-Date)

Fig. 3: PH Electronics Exports (January – August 2022

vs. January – August 2023)

Year-to-date electronics exports declined by 3.60%, from US$ 30.45 billion in 2022 to US$ 29.35 billion in 2023, equivalent to 61.40% of the total Philippine exports. Please see Fig. 3.

 

Exports from five (5) sectors went down from last year’s YTD figures, led by Automotive Electronics at 65.89%, from US$ 73.34 million to US$ 25.01 million. This was followed by Office Equipment (36.67%), Electronic Data Processing (32.94%), Telecommunication (17.94%); and Control and Instrument (1.59%). Please see Table 3.

 

Meanwhile, Medical Industrial Instrumentation exports increased by 25.38%, from US$ 141.57 million to US$ 177.50 million. This was followed by Communication Radar (19.64%), Consumer Electronics (13.62%), and Semiconductor Components/Devices (0.68%).

COUNTRIES OF DESTINATION AUGUST 2023

Table 1 shows the top five (5) export destinations in August 2023, namely, Hong Kong (18.46%), the USA (13.54%), China (9.06%), Japan (7.63%), and Singapore (5.90%). These were likewise the countries of destination in the same order in July 2023.

The other destinations in the top ten were the Netherlands (5.30%), South Korea (5.10%), Taiwan (4.63%), Germany (4.26%), and Malaysia (3.51%).

Fig. 4: Top Exported Products, July 2023

The top exported electronics products in August 2023 are in Fig. 4.

 

Integrated Circuits bound for Hong Kong increased by 263.29%. Meanwhile, Integrated Circuits bound for the USA decreased by 19.86%. 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

 

 

 

Bottom Ad