JULY 2023 PHILIPPINE ELECTRONICS EXPORT PERFORMANCE

Electronics exports declined by 7.07% in July 2023 to US$ 3.95 billion, or 64.36% of the US$ 6.14 billion in total Philippine exports.

A. PH Electronics Exports:

            (Month-on-Month)

Fig. 1: PH Electronics Exports (June 2023 vs July 2023)

Electronics exports decreased from US$ 4.26 billion in June 2023 to US$ 3.95 billion in July 2023, as shown in Fig. 1.

 

Exports in six (6) sectors went down as shown in Table 2. The sector that went down the most was Automotive Electronics at 41.77%, from US$ 4.27 million to US$ 2.49 million, followed by Telecommunication (22.52%), Electronic Data Processing (8.33%), Semiconductor Components/Devices (7.61%), Control and Instrumentation (5.76%), and Communication/Radar (2.26%). Please see Table 2.

 

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

The Philippine Electronics exports improved by 7.02%, from US$ 3.70 billion in July 2022 to US$ 3.95 billion in July 2023, as shown in Fig. 2.

 

Exports in four (4) sectors increased, led by Medical/Industrial Instrumentation at 37.43%, from US$ 16.23 million to US$ 22.31 million. It was followed by Semiconductor Components/Devices (18.20%), Consumer Electronics (18.10%), and Communication/Radar (0.33%).

 

Automotive Electronics declined the most at 44.11%, from US$ 4.45 million to US$ 2.49 million. This was followed by Electronic Data Processing (40.49%), Office Equipment (12.06%), Telecommunication (4.82%), and Control and Instrumentation (4.13%). Kindly refer to Table 2.

Fig. 2: PH Electronics Exports (July 2022 vs July 2023)

 

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

Year-to-date electronics exports contracted by 5.01%, from US$ 26.47 billion in 2022 to US$ 25.15 billion in 2023, equivalent to 61.20% of the total Philippine exports. Please see Fig. 3.

 

Exports from six (6) sectors went down from last year’s YTD figures, led by Automotive Electronics at 68.71%, from US$ 67.71 million to US$ 21.19 million. This was followed by Office Equipment (40.57%), Electronic Data Processing (33.39%), Telecommunication (22.62%), Control and Instrumentation (1.65%), and Semiconductor Components/Devices (1.25%). Please see Table 3.

 

Meanwhile, Medical/Industrial Instrumentation exports rose by 22.383%, from US$ 125.57 million to US$ 153.67 million. This was followed by Communication/Radar (19.56%), and Consumer Electronics (17.48%).

 

COUNTRIES OF DESTINATION JULY 2023

Table 1 shows the top five (5) export destinations in July 2023, namely, Hong Kong (17.86%), the USA (14.27%), China (9.18%), Japan (7.46%), and Singapore (6.63%). These were likewise the countries of destination in the same order in June 2023.

Table 1: Top 5 Destination Countries for Electronics (June 2023 vs July 2023)

The other destinations in the top ten were the Netherlands (5.89%), Taiwan (4.76%), Germany (4.50%), South Korea (3.96%), and Malaysia (3.85%).

Fig. 4: Top Exported Products, July 2023

The top exported electronics products in July 2023 are in Fig. 4.

 

Processors and controllers under semiconductor components/devices bound for the Netherlands increased by 20.60%. Meanwhile, integrated circuits bound for Hong Kong decreased by 78.62%. 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

Bottom Ad