JANUARY 2023 PHILIPPINE ELECTRONICS EXPORT PERFORMANCE
The Electronics Industry remained the country’s top exporter for the month of January 2023, accounting for US$ 3.12 billion of US$ 5.23 billion, or 59.68% of the total Philippine commodity exports.
A. PH Electronics Exports: (Month-on-Month)
Fig. 1: PH Electronics Exports (December 2022 vs January 2022)
Electronics exports declined by 12.85%, from US$ 3.58 billion in December 2022 to US$ 3.12 billion in January 2023. See Fig. 1.
Exports in five (5) sectors went down, as shown in Table 2. This was led by Office Equipment with a 30.28% decrease, from US$ 34.71 million to US$ 24.20 million, followed by Consumer Electronics (20.63%), Semiconductor Components/Devices (15.95%), Control and Instrumentation (9.39%), and Electronic Data Processing (7.21%). Please see Table 2.
Automotive Electronics increased by 460.52%, from US$ 54.89 thousand to US$ 3.07 million, followed by Medical/Industrial Instrumentation (10.68%), Communication/Radar (7.83%), and Telecommunication (5.19%). Kindly refer to Table 2.
B. PH Electronics Exports: (Year-on-Year)
The Philippine Electronics exports decreased by 17.22%, from US$ 3.77 billion in January 2023 to US$ 3.12 billion in January 2023, as shown in Fig. 2.
Exports in five (5) sectors contracted, led by Automotive Electronics at 79.07%, from US$ 14.67 million in January 2022 to US$ 3.07 million in January 2023. This was followed by Office Equipment (63.99%), Consumer Electronics (23.05%), Electronic Data Processing (21.55%), and Semiconductor Components/Devices (18.99%).
Meanwhile, Medical/Industrial Instrumentation went by 12.21%, from US$ 17.85 million to US$ 20.03 million, followed by Communication/Radar (6.12%), Telecommunication (2.40%), and Control and Instrumentation (0.55%). Kindly refer to Table 2.
Fig. 2: PH Electronics Exports (January 2022 vs January 2023)
COUNTRIES OF DESTINATION (JANUARY 2023)
Table 1 shows the top five (5) export destinations in January 2023, namely, Hong Kong (14.45%), USA (12.47%), China (11.78%), Singapore (7.78%), and Japan (7.10%).
Table 1: Top 5 Destination Countries for Electronics (December 2022 vs January 2023)
Other destinations in the top ten were Germany (5.90%), Taiwan (5.15%), Vietnam (3.91%), Thailand (3.82%), and South Korea (3.63%).
Fig. 4: Top Exported Products, January 2023
The top exported electronics products in January 2023 are seen in Fig. 4. Processors and controllers under semiconductors components/devices bound for The Netherlands increased by 3.49%. On the other hand, Hard disk drives under EDP bound for the USA dropped by 37.34%. See Table 3.
Table 2: PH Electronics Exports Product by Sector (Month-on-Month and Year-on-Year)
Table 3: PH Top Electronics Export Products and Countries of Destination
