FEBRUARY 2021 PHILIPPINE ELECTRONICS EXPORT PERFORMANCE

The electronics industry reached US$ 3.25 billion in February 2021, a decrease by 8% from last month. This was 61% of the US$ 5.31 billion total Philippine exports for the month.

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

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Fig. 1: PH Electronics Exports (January 2021 vs February 2021)

Electronics exports contracted by 8% from US$ 3.55 billion in January 2021 to US$ 3.25 billion in February 2021 (see Fig. 1).

Exports in six sectors decreased as shown in Table 2. Consumer electronics had the largest contraction at 15.21% from US$ 98.13 million to US$ 83.2 million. This was followed by Components/ Devices (Semiconductors) (9.49%), Communication/ Radar (9.34%), Electronic Data Processing (EDP) (3.24%), Office equipment (1.76%), and Medical/Industrial Instrumentation (1.30%). Please see Table 2.

Telecommunication had the largest increase at 15.54% from US$ 27.16 million to US$ 31.38 million, followed by Automotive Electronics (1.97%) and Control and Instrumentation (1.34%).  Kindly refer to Table 2.


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

The Philippine Electronics exports increased by 0.55%, from US$ 3.24 billion in February 2020 to US$ 3.25 billion in February 2021, as shown in Fig. 2.

Exports in five sectors grew, led by Medical/ Industrial Instrumentation with 81.46% from US$ 12.69 million last year to US$ 23.03 million this year. It was followed by Control and Instrumentation (17.27%), Consumer Electronics (16.37%), Telecommunication (12.81%), and EDP (7.77%).

Four sectors declined namely: Automotive Electronics (58.91%), Office Equipment (15.04%), Communication/ Radar (9.89%) and Components/Devices (Semiconductors) (1.65%). See Table 2.

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Fig. 2: PH Electronics Exports (February 2020 vs. February 2021)


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

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Fig. 3: PH Electronics Exports (January-February 2020 vs. January-February 2021)

Total electronics exports increased by 1.09%, from US$ 6.73 billion in 2020 to US$ 6.80 billion in 2021. This translates to 62.2% of the total Philippine exports (see Fig. 3).

Four out of nine sectors grew from last year’s YTD figures led by Medical/ Industrial Instrumentation at 89.41%, from US$ 24.48 million in February 2020 to US$ 46.37 million in February 2021. This was followed by Consumer Electronics (25.24%), Control and Instrumentation (16.92%) and EDP (15.71%). See Table 3.

Exports in five sectors declined with the highest contraction in Automotive Electronics at 60.31%, followed by Office Equipment at 13.35%, Telecommunication at 7.62, Communication/ Radar at 7.37 and Components/Devices (Semiconductors) at 3.12%. Also see Table 3.


COUNTRIES OF DESTINATION (FEBRUARY 2021)

As shown in Table 1, the top five (5) countries of destination in February 2021 were Hong Kong (18.33%), USA (14.60%), China (11.37%) Japan (8.06%), and Singapore (6.90%).

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Table 1: Top 5 Destination Countries for Electronics (January 2021 vs. February 2021)


Other destinations in the top ten are Germany (5.48%), Taiwan (4.54%), Thailand (3.61%), South Korea (2.82%), and Malaysia (2.60%).

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Fig. 4: Top Exported Products, February 2021

The top exported electronics products in February 2021 are seen in fig. 4. Hard disk drives bound for USA increased by 37.41%; however, wafers and discs bound for China dropped by (37.67%). See Table 4.


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

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

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

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