JULY 2022 PHILIPPINE ELECTRONICS EXPORT PERFORMANCE
Electronics exports decreased by 2.89% in July 2022 to US$ 3.70 billion, which was 59.56% of the US$ 6.21 billion in total Philippine exports for the month.
A. PH Electronics Exports: (Month-on-Month)
Fig. 1: PH Electronics Exports (June 2022 vs July 2022)
Electronics exports went down from US$ 3.81 billion in June 2022 to US$ 3.70 billion in July 2022 as shown in Fig. 1.
Exports in seven (7) sectors declined as shown in Table 2. This was led by Automotive Electronics at 52%, from US$ 9.28 million to US$ 4.45 million, followed by Telecommunication (37.37%), Control and Instrumentation (15.20%), Semiconductor Components/Devices (4.40%), Consumer Electronics (4.24%), Office Equipment (4.23%), and Medical/Industrial Instrumentation (1.02%). Please see Table 2.
On the other hand, Communication/Radar increased by 16.50%, from US$ 42.94 million to US$ 50.03 million. This was followed by Electronic Data Processing (8.25%). Kindly refer to Table 2.
B. PH Electronics Exports: (Year-on-Year)
The Philippine Electronics exports dropped by 6.94%, from US$ 3.98 billion in July 2021 to US$ 3.70 billion in July 2022, as shown in Fig. 2.
Exports in six (6) sectors contracted, led by Automotive Electronics at 48%, from US$ 8.57 million in July 2021 to US$ 4.45 million in July 2022. This was followed by Office Equipment (38.81%), Consumer Electronics (28.91%), Electronic Data Processing (28.37%), Medical/Industrial Instrumentation (8.59%), and Semiconductor Components/Devices (2.04%).
Communication/Radar products improved the most by 22.32%, from US$ 40.90 million to US$ 50.03 million. This was followed by Control and Instrumentation (13.50%), and Telecommunication (12.88%).
Fig. 2: PH Electronics Exports (July 2021 vs July 2022)
C. PH Electronics Exports (Year-to-Date)
Fig. 3: PH Electronics Exports (January- July 2021 vs. January- July 2022)
Year-to-date electronics exports grew by 1.99%, from US$ 25.99 billion in 2021 to US$ 26.51 billion in 2022. This was 59.25% of the total Philippine exports. Please see Fig. 3.
Exports from four (4) sectors increased from last year’s YTD figures, led by Telecommunication at 143.22%, from US$ 239.84 million last year to US$ 583.33 million this year. This was followed by Automotive Electronics (18.70%), Control and Instrumentation (8.61%), and Semiconductor Components/Devices (5.90%). Please see Table 3.
On the other hand, exports in Consumer Electronics decreased by 23.95%, from US$ 626.83 million to US$ 476.72 million. This was followed by Electronic Data Processing (14.74%), Medical/Industrial Instrumentation (13.08%), Communication/Radar (8.73%), and Office Equipment (1.86%).
COUNTRIES OF DESTINATION JULY 2022)
Table 1 shows the top five (5) export destinations in July 2022, namely, Hong Kong (18.34%), the USA (12.22%), China (11.23%), Singapore (10.14%), and Japan (6.99%). These were likewise the countries of destination in the same order in June 2022.
Table 1: Top 5 Destination Countries for Electronics (June 2022 vs July 2022)
The other destinations in the top ten were Taiwan (5.47%), Germany (5.10%), Thailand (3.90%), South Korea (3.55%), and the Netherlands (2.81%).
Fig. 4: Top Exported Products, July 2022
The top exported electronics products in July 2022 are seen in Fig. 4. Hard disk drives under EDP bound for the USA increased by 24.57%. Conversely, integrated circuits bound for Hong Kong decreased by 38.04%. 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
