FEBRUARY 2023 PHILIPPINE ELECTRONICS EXPORT PERFORMANCE
Electronics exports contracted 3.71% in February 2023 to US$ 3.01 billion, 59.25% of the US$ 5.08 billion in total Philippine exports.
A. PH Electronics Exports: (Month-on-Month)
Fig. 1: PH Electronics Exports (January 2023 vs February 2023)
Electronics exports declined from US$ 3.12 billion in January 2023 to US$ 3.01 billion in February 2023, as shown in Fig. 1.
Exports in six (6) sectors went down, as shown in Table 2. Telecommunication decreased the most at 28.14%, from US$ 86.44 million to US$ 62.12 million, followed by Electronic Data Processing (10.24%), Semiconductor Components/Devices (6.37%), Control and Instrumentation (5.88%), Medical/Industrial Instrumentation (0.37%), and Automotive Electronics (0.15%). Please see Table 2.
Conversely, Office Equipment increased by 60.60%, from US$ 24.22 million to US$ 38.89 million, followed by Consumer Electronics (43.62%), and Communication/Radar (4.54%). Kindly refer to Table 2.
B. PH Electronics Exports: (Year-on-Year)
The Philippine Electronics exports decreased by 19.48%, from US$ 3.74 billion in February 2022 to US$ 3.01 billion in February 2023, as shown in Fig. 2.
Exports in six (6) sectors took a downturn, led by Automotive Electronics at 73.90%, from US$ 11.75 million to US$ 3.07 million. It was followed by Electronic Data Processing (30.18%), Telecommunication (28.29%), Semiconductor Components/Devices (23.24%), Office Equipment (16.51%), and Control and Instrumentation (3.52%).
Consumer Electronics gained the most at 51.70%, from US$ 64.03 million to US$ 97.13 million. This was followed by Medical/Industrial Instrumentation (7.23%), and Communication/Radar (0.82%). Kindly refer to Table 2.
Fig. 2: PH Electronics Exports (February 2022 vs February 2023)
C. PH Electronics Exports (Year-to-Date)
Fig. 3: PH Electronics Exports (January – February 2022 vs. January – February 2023)
Year-to-date electronics exports decreased by 18.23%, from US$ 7.50 billion in 2022 to US$ 6.13 billion in 2023, equivalent to 59.36% of the total Philippine exports. Please see Fig. 3.
Exports from six (6) sectors contracted from last year’s YTD figures, led by Automotive Electronics at 76.77%, from US$ 26.42 million to US$ 6.14 million. This was followed by Office Equipment (44.53%), Electronic Data Processing (25.89%), Semiconductor Components/ Devices (21.00%), Telecommunication (13.66%), and Control and Instrumentation (1.39%). Please see Table 3.
Meanwhile, the export of Medical/Industrial Instrumentation improved by 10.82%, from US$ 36.80 million to US$ 40.78 million. This was followed by Consumer Electronics (8.33%), and Communication/ Radar (3.34%).
COUNTRIES OF DESTINATION FEBRUARY 2023
Table 1 shows the top five (5) export destinations in February 2023, namely, Hong Kong (15.15%), the USA (12.01%), China (10.72%), Singapore (8.77%), and Japan (7.18%). These were likewise the countries of destination in the same order in January 2023.
Table 1: Top 5 Destination Countries for Electronics (January 2022 vs February 2023)
The other destinations in the top ten were Germany (5.54%), Thailand (4.57%), Taiwan (4.29%), South Korea (3.68%), and the Netherlands (3.06%).
The top exported electronics products in February 2023 are in Fig. 4.
Fig. 4: Top Exported Products, February 2023
The parts and accessories of data processing machines under electronic data processing bound for Thailand increased by 51.30%. Conversely, integrated circuits bound for Hong Kong decreased by 24.00%. 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
