FEBRUARY 2022 PHILIPPINE ELECTRONICS IMPORT PERFORMANCE
Electronics imports in February 2022 reached US$ 2.40 billion, or 24.79% of the country’s US$ 9.69 billion total commodity imports for the month.
A. PH Electronics Imports: (Month-on-Month)
Fig. 1: PH Electronics Imports (January 2022 vs February 2022)
The country’s electronics imports went down by 14.12%, from US$ 2.80 billion in January 2022 to US$ 2.40 billion in February 2022 (See Fig. 1).
Imports in all nine (9) sectors contracted, as shown in Table 2. Communication/Radar decreased the most at 30.67%, from US$ 118.27 million in January 2022 to US$ 81.99 million in February 2022. This was followed by Medical/Industrial Instrumentation (25.43%), Consumer Electronics (19.96%), Telecommunication (14.80%), Semiconductor Components/Devices (13.90%), Automotive Electronics (12.70%), Electronic Data Processing (8.72%), Control and Instrumentation (8.15%), Office Equipment (5.17%).
B. PH Electronics Imports: (Year-on-Year)
The electronics imports went up by 8.46%, from US$ 2.21 billion in February 2021 to US$ 2.40 billion in February 2022, as shown in Fig. 2.
Electronics imports in four (4) sectors rose, led by Control and Instrumentation at 51.11%, from US$ 45.11 million in February 2021 to US$ 68.16 million in February 2022. This was followed by Telecommunication (19.93%), Semiconductor Components/Devices (11.98), and Consumer Electronics (1.73%) as shown in Table 2.
Five (5) sectors decreased, namely Office Equipment (35.25%), Automotive Electronics (23.14%), Communication/Radar (16.70%), Medical/Industrial Instrumentation (6.50%), and Electronic Data Processing (4.66%).
Fig. 2: PH Electronics Imports (February 2021 vs February 2022)
C. PH Electronics Imports (Year-to-Date)
Fig. 3: PH Electronics Exports (January-February 2021 vs. January-February 2022)
Cumulative electronics imports increased by 11.71%, from US$ 4.65 billion last year to US$ 5.20 billion this year. These comprised 25.43% of the total Philippine commodity imports YTD (See Fig. 3.).
Imports for the five (5) out of nine (9) electronics sectors grew, led by Control and Instrumentation (44.78%), from US$ 98.33 million to US$ 142.37 million. This was followed by Medical/Industrial Instrumentation (26.85%), Telecommunication (21.68%), Semiconductor Components/Devices (16.75%), and Consumer Electronics (10.07%).
Meanwhile, Automotive Electronics declined by 27.78%, followed by Office Equipment (25.96%), Communication/Radar (12.10%), and Electronic Data Processing (8.51%).
COUNTRIES OF ORIGIN (FEBRUARY 2022)
Table 1 shows that the top five (5) countries of origin of electronics imports in February 2022 were China (18.91%), Korea (15.50%), Japan (14.69%), Taiwan (12.69%), and Singapore (8.83%).
Table 1: Top 5 Countries of Origin for Electronics Imports (January 2022 vs February 2022)
The rest of the top ten countries of origin were USA (7.11%), Hong Kong (6.06%), Malaysia (3.46%), Thailand (3.09%), and Germany (2.31%).
Fig. 4: Top Imported Products (February 2022)
Fig. 4 shows the top imported electronics products in February 2022. Other semiconductor products imported from Japan rose by 34.50%. Meanwhile, other semiconductor products imported from Korea dropped by 42.63%. See Table 4.
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
