AUGUST 2023 PHILIPPINE ELECTRONICS IMPORT PERFORMANCE

Electronics imports in August 2023 contracted by 1.00% to US$ 2.24 billion, or 20.71% of the country’s US$ 10.35 billion total commodity imports.

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

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

The country’s electronics imports decreased by 1.00% from US$ 2.27 billion in July 2023 to US$ 2.24 billion in August 2023. See Fig. 1.

 

Imports in six (6) electronics sectors went down. This was led by Office Equipment at 24.54%, from US$ 20.02 million to US$ 15.10 million, followed by Automotive Electronics (9.67%), Control and Instrumentation (3.85%), Electronic Data Processing (3.58%), Communication/Radar (1.87%), and Semiconductor Components/Devices (0.92%).

 

Meanwhile, imports from three (3) increased, namely Consumer Electronics (8.45%), Medical/Industrial Instrumentation (4.35%), and Telecommunication (1.79%).

B. PH Electronics Imports: (Year-on-Year)

The electronics imports declined by 22.30%, from US$ 2.89 billion in August 2022 to US$ 2.24 billion in August 2023, as shown in Fig. 2.

 

Electronics imports in four (4) sectors contracted, led by Electronic Data Processing at 35.89%, from US$ 307.63 million to US$ 197.23 million. It was followed by Semiconductor Components/Devices (25.11%), Consumer Electronics (14.13%), and Communication/Radar (5.35%), as shown in Table 2.

 

Five (5) sectors increased, namely, Medical/Industrial Instrumentation (33.21%), Control and Instrumentation (13.95%), Automotive Electronics (5.25%), Office Equipment (1.74%), and Telecommunication (0.19%).

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

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

Fig. 3: PH Electronics Exports (January – August 2022 vs January – August 2023)

 

Cumulative electronics imports went down by 18.47%, from US$ 21.95 billion last year to US$ 17.90 billion this year. These comprised 21.28% of the total Philippine commodity imports YTD (See Fig. 3.).

 

Imports for four (4) out of nine (9) electronics sectors decreased, led by Electronic Data Processing (38.46%) from US$ 2.57 billion to US$ 1.58 billion. This was followed by Semiconductor Components/Devices (18.85%), Telecommunication (17.79%), and Consumer Electronics (16.66%).

 

On the other hand, Office Equipment rose by 45.58%, from US$ 107.71 million to US$ 156.81 million. It was followed by Medical/Industrial Instrumentation (27.05%), Automotive Electronics (16.42%), Control and Instrumentation (11.00%), and Communication/Radar (10.21%). Kindly refer to Table 3.

COUNTRIES OF ORIGIN (AUGUST 2023)

Table 1 shows that the top five (5) countries of origin of electronics imports in August 2023 were China (20.86%), Japan (13.29%), Taiwan (11.44%), the USA (11.34%), and South Korea (11.21%).

Table 1: Top 5 Countries of Origin for Electronics Imports

(July 2023 vs August 2023)

The rest of the top ten countries of origin were Singapore (7.22%), Hong Kong (5.98%), Malaysia (5.11%), Thailand (2.72%), and Vietnam (2.61%).

Fig. 4: Top Imported Products (August 2023)

Fig. 4 shows the top imported electronics products in August 2023. Integrated circuits imported from South Korea increased by 25.42%. Meanwhile, Materials and accessories for the manufacture of semiconductor devices imported from China decreased by 23.38%.  See Table 3.

 

Table 2: PH Electronics Imports Product by Sector (Month-on-Month and Year-on-Year)

 

Table 3: PH Electronics Imports Product by Sector (Year-to-date)

 

Table 4: PH Top Electronics Import Products and Countries of Destination

 

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