JULY 2023 PHILIPPINE ELECTRONICS IMPORT PERFORMANCE

Electronics imports in July 2023 increased by 6.92% to US$ 2.26 billion, or 21.85% of the country’s US$ 10.35 billion total commodity imports.

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

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

The country’s electronics imports went up by 6.92% from US$ 2.11 billion in June 2023 to US$ 2.26 billion in July 2023. See Fig. 1.

 

Imports in all electronics sectors increased. This was led by Automotive Electronics at 56.42%, from US$ 3.14 million to US$ 4.90 million, followed by Communication/Radar (24.68%), Telecommunication (14.67%), Consumer Electronics (10.10%), Control and Instrumentation (8.65%), Electronic Data Processing (6.65%), Office Equipment (5.91%), Semiconductor Components/Devices (5.03%), and Medical/Industrial Instrumentation (1.98%).

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

The electronics imports contracted by 19.08%, from US$ 2.79 billion in July 2022 to US$ 2.26 billion in July 2023, as shown in Fig. 2.

 

Electronics imports in four (4) sectors declined, led by Electronic Data Processing at 35.86%, from US$ 321.99 million to US$ 206.54 million. It was followed by Semiconductor Components/Devices (22.49%), Telecommunication (10.69%), and Consumer Electronics (7.48%), as shown in Table 2.

 

Five (5) sectors increased, namely, Office Equipment (42.87%), Communication/Radar (40.70%), Medical/Industrial Instrumentation (36.69%), Control and Instrumentation (21.53%), and Automotive Electronics (4.21%).

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

 

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

Fig. 3: PH Electronics Exports (January – July 2022

 vs January – July 2023)

 

Cumulative electronics imports decreased by 17.91%, from US$ 19.07 billion last year to US$ 15.65 billion this year. These comprised 21.36% of the total Philippine commodity imports YTD (See Fig. 3.).

 

Imports for four (4) out of nine (9) electronics sectors went down, led by Electronic Data Processing (38.73%%) from US$ 2.26 billion to US$ 1.39 billion. This was followed by Telecommunication (19.99%), Semiconductor Components/Devices (17.95%), and Consumer Electronics (17.07%).

 

On the other hand, Office Equipment increased by 52.45%, from US$ 92.87 million to US$ 141.58 million. It was followed by Medical/Industrial Instrumentation (26.01%), Automotive Electronics (18.32%), Communication/Radar (12.97%), and Control and Instrumentation (10.51%). Kindly refer to Table 3.

COUNTRIES OF ORIGIN (JULY 2023)

Table 1 shows that the top five (5) countries of origin of electronics imports in July 2023 were China (23.31%), Japan (12.97%), Taiwan (11.40%), South Korea (9.96%), and the USA (9.39%).

Table 1: Top 5 Countries of Origin for Electronics Imports

(June 2023 vs July 2023)

 

The rest of the top ten countries of origin were Singapore (8.10%), Malaysia (5.83%), Hong Kong (4.80%), Vietnam (2.84%), and Thailand (2.54%)

Fig. 4: Top Imported Products (July 2023)

Fig. 4 shows the top imported electronics products in July 2023. Materials and accessories for the manufacture of semiconductor devices imported from South Korea increased by 65.00%%. Meanwhile, electronic integrated circuits imported from South Korea decreased by 30.77%.  See Table 3.

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

 

 

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