DECEMBER 2022 PHILIPPINE ELECTRONICS EXPORT PERFORMANCE
Electronics exports contracted 29.11% in December 2022 to US$ 3.46 billion, 61.01% of the US$ 5.67 billion in total Philippine exports for the month.
A. PH Electronics Exports: (Month-on-Month)
Fig. 1: PH Electronics Exports (November 2022 vs December 2022)
Electronics exports declined from US$ 4.88 billion in November 2022 to US$ 3.46 billion in December 2022, as shown in Fig. 1.
Exports in seven (7) sectors went down, as shown in Table 2. Automotive Electronics decreased the most at 90.13%, from US$ 5.55 billion to US$ 548 thousand, followed by Semiconductor Components/Devices (35.67%), Control and Instrumentation (20.08%), Consumer Electronics (19.72%), Medical/Industrial Instrumentation (12.06%), Electronic Data Processing (5.59%) and Telecommunication (3.11%). Please see Table 2.
Conversely, Office Equipment went up by 10.41%, from US$ 31.43 million to US$ 34.70 million, followed by Communication/Radar (4.21%). Kindly refer to Table 2.
B. PH Electronics Exports: (Year-on-Year)
The Philippine Electronics exports decreased by 12.09%, from US$ 3.93 billion in December 2021 to US$ 3.46 billion in December 2022, as shown in Fig. 2.
Exports in six (6) sectors contracted, led by Automotive Electronics at 95.06%, from US$ 11.01 million to US$ 548 thousand. It was followed by Office Equipment (39.74%), Electronic Data Processing (24.47%), Semiconductor Components/Devices (12.78%), Communication/Radar (11.32%), and Telecommunication (8.70%).
Control and Instrumentation products had the highest increase at 28.18%, from US$ 52.39 million to US$ 67.15 million. This was followed by Consumer Electronics (13.33%) and Medical/Industrial Instrumentation (6.20%). Kindly refer to Table 2.
Fig. 2: PH Electronics Exports (December 2021 vs December 2022)
C. PH Electronics Exports (Year-to-Date)
Fig. 3: PH Electronics Exports (January – December 2021 vs. January – December 2022)
Year-to-date electronics exports went up by 6.88%, from US$ 45.93 billion in 2021 to US$ 49.09 billion in 2022, which is 62.27% of the total Philippine exports. Please see Fig. 3.
Exports from three (3) sectors went by from last year’s YTD figures, led by Telecommunication at 31.39%, from US$ 725.53 million to US$ 953.29 million. This was followed by Control and Instrumentation (16.48%) and Semiconductor Components/Devices (13.64%). Please see Table 3.
Meanwhile, exports in Office Equipment contracted by 20.34%, from US$ 633.17 million to US$ 504.42 million. This was followed by Electronic Data Processing (17.37%), Consumer Electronics (7.10%), Automotive Electronics (5.67%), Medical/Industrial Instrumentation (4.67%), and Communication/Radar (4.64%).
COUNTRIES OF DESTINATION DECEMBER 2022)
Table 1 shows the top five (5) export destinations in December 2022, namely, China (16.97%), Hong Kong (14.10%), the USA (12.07%), Singapore (8.00%), and Japan (6.10%).
Table 1: Top 5 Destination Countries for Electronics (November 2022 vs December 2022)
The other destinations in the top ten were Germany (5.42%), Taiwan (4.93%), Vietnam (3.12%), South Korea (2.96%), and Thailand (2.85%).
Fig. 4: Top Exported Products, December 2022
The top exported electronics products in December 2022 are in Fig. 4. Processors and controllers under semiconductors components/devices bound for China increased by 23.36%. Conversely, integrated circuits bound for Hong Kong decreased by 77.66%. 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
