JULY 2022 PHILIPPINE ELECTRONICS IMPORT PERFORMANCE
Electronics imports in July 2022 decreased by 3.29% to US$ 2.77 billion, or 22.83% of the country’s US$ 12.14 billion total commodity imports for the month.
A. PH Electronics Imports: (Month-on-Month)
Fig. 1: PH Electronics Imports (June 2022 vs July 2022)
The country’s electronics imports went down from US$ 2.87 billion in June 2022 to US$ 2.77 billion in July 2022 (See Fig. 1).
Imports in Semiconductor Components/Devices contracted by 5.33%, from US$ 2.14 billion in June 2022 to US$ 2.02 billion in July 2022.
Meanwhile, Medical/Industrial Instrumentation went up by 13.20%, followed by Office Equipment (12.34%), Control and Instrumentation (5.49%), Automotive Electronics (5.26%), Communication/Radar (4.29%), Consumer Electronics (3.25%), Telecommunication (0.59%), and Electronic Data Processing (0.59%). (See Table 2).
B. PH Electronics Imports: (Year-on-Year)
The electronics imports declined by 1.51%, from US$ 2.81 billion in July 2021 to US$ 2.77 billion in July 2022, as shown in Fig. 2.
Electronics imports in five (5) sectors contracted, led by Electronic Data Processing at 20.19%, from US$ 405.07 million in July 2021 to US$ 323.27 million in July 2022. This was followed by Office Equipment (14.55%), Communication/Radar (10.39%), Control and Instrumentation (6.95%), and Consumer Electronics (4.26%), as shown in Table 2.
Five (4) sectors increased, namely Automotive Electronics (54.92%), Medical/Industrial Instrumentation (39.20%), Telecommunication (10.42%), and Semiconductor Components/Devices (2.14%).
Fig. 2: PH Electronics Imports (July 2021 vs July 2022)
C. PH Electronics Imports (Year-to-Date)
Fig. 3: PH Electronics Exports (January-July 2021 vs. January-July 2022)
Cumulative electronics imports climbed by 8.08%, from US$ 17.62 billion last year to US$ 19.04 billion this year. These comprised 23.66% of the total Philippine commodity imports YTD (See Fig. 3.).
Imports for six (6) out of nine (9) electronics sectors grew, led by Control and Instrumentation from US$ 437.00 million to US$ 525.97 million (20.36%). This was followed by Semiconductor Components/Devices (15.02%), Telecommunication (13.79%), Medical/Industrial Instrumentation (9.34%), Telecommunication (6.97%), Automotive Electronics (1.77%), and Consumer Electronics (1.28%).
Conversely, Office Equipment decreased by 14.45%, followed by Electronic Data Processing (14.29%), and Communication/Radar (2.09%).
COUNTRIES OF ORIGIN (JULY 2022)
Table 1 shows that the top five (5) countries of origin of electronics imports in July 2022 were China (22.04%), South Korea (15.34%), Taiwan (13.38%), Japan (11.98%), and Singapore (8.77%). These were likewise the import origins, in the same order, in June 2022.
Table 1: Top 5 Countries of Origin for Electronics Imports (June 2022 vs July 2022)
The rest of the top ten countries of origin were Hong Kong (7.04%), the USA (6.95%), Malaysia (3.23%), Thailand (2.78%), and Vietnam (1.70%).
Fig. 4: Top Imported Products (July 2022)
Fig. 4 shows the top imported electronics products in July 2022. Parts and accessories of data processing machines under EDP imported from Hong Kong increased by 27.42%. Meanwhile, dice and wafer of any material of data processing machines under semiconductors components/ devices imported from South Korea dropped by 33.28%. 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
