FEBRUARY 2023 PHILIPPINE ELECTRONICS IMPORT PERFORMANCE

Electronics imports in February 2023 contracted by 12.70% to US$ 2.13 billion, or 23.84% of the country’s US$ 8.95 billion total commodity imports.

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

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Fig. 1: PH Electronics Imports (January 2023 vs February 2023)

The country’s electronics imports declined by 12.70% from US$ 2.45 billion in January 2023 to US$ 2.13 billion in February 2023. See Fig. 1.

Imports in Office Equipment decreased by 44.38%, from US$ 28.35 million to US$ 15.77 million, followed by Consumer Electronics (35.78%), Electronic Data Processing (30.00%), Telecommunication (20.20%), Semiconductor Components/Devices (10.22%), Medical/Industrial Instrumentation (4.70%), and Automotive Electronics (3.69%).

Meanwhile, Communication/Radar rose to 4.76%, followed by Control and Instrumentation (4.27%). See Table 2.

 


 

 

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

The electronics imports contracted by 14.30%, from US$ 2.49 billion in February 2022 to US$ 2.13 billion in February 2023, as shown in Fig. 2.

Electronics imports in four (4) sectors went down, led by Electronic Data Processing at 50.59%, from US$ 325.59 million to US$ 160.87 million. It was followed by Consumer Electronics (32.40%), Telecommunication (24.30%), and Semiconductor Components/Devices (10.51%), as shown in Table 2.

Five (5) sectors increased, namely Communication/Radar (48.63%), Office Equipment (33.57%), Medical/Industrial Instrumentation (20.94%), Automotive Electronics (11.51%), and Control and Instrumentation (4.57%).

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


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

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

Cumulative electronics imports dropped by 13.39%, from US$ 5.29 billion last year to US$ 4.58 billion this year. These comprised 22.97% of the total Philippine commodity imports YTD (See Fig. 3.).

Imports for four (4) out of nine (9) electronics sectors declined, led by Electronic Data Processing (42.45%) from US$ 667.21 million to US$ 390.68 million. Following it was Consumer Electronics (20.64%), Telecommunication (16.22%), and Semiconductor Components/Devices (11.26%).

On the other hand, Office Equipment increased by 91.10%, followed by Communication/Radar (23.27%), Automotive Electronics (8.41%), Medical/Industrial Instrumentation (7.89%), and Control and Instrumentation (0.66%). Kindly refer to Table 3.

 


 

 

COUNTRIES OF ORIGIN (DECEMBER 2022)

Table 1 shows that the top five (5) countries of origin of electronics imports in February 2022 were China (17.22%), Taiwan (15.73%), Japan (12.00%), South Korea (10.74%), and Singapore (10.06%).

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Table 1: Top 5 Countries of Origin for Electronics Imports (January 2023 vs February 2023)


The rest of the top ten countries of origin were the USA (9.80%), Malaysia (4.97%), Hong Kong (4.96%), Vietnam (3.12%), and Thailand (3.05%).

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Fig. 4: Top Imported Products (February 2023)

Fig. 4 shows the top imported electronics products in December 2022. Electrically circuit-programmed wafers and discs imported from Taiwan increased by 12.56%. Conversely, materials and accessories for semiconductor devices imported from South Korea dropped by 22.85%. See Table 4.


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

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

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

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