JUNE 2023 PHILIPPINE ELECTRONICS EXPORT PERFORMANCE
Electronics exports improved by 5.48% in June 2023 to US$ 4.25 billion, or 63.44% of the US$ 6.70 billion in total Philippine exports.
A. PH Electronics Exports: (Month-on-Month)
Fig. 1: PH Electronics Exports (May 2023 vs June 2023)
Electronics exports went up from US$ 4.03 billion in May 2023 to US$ 4.25 billion in June 2023, as shown in Fig. 1.
Exports in seven (7) sectors went up as shown in Table 2. The biggest increase was with Automotive Electronics at 86.76%, from US$ 2.29 million to US$ 4.27 billion, followed by Telecommunication (27.93%), Electronic Data Processing (19.43%), Office Equipment (15.74%), Consumer Electronics (10.66%), Control and Instrumentation (9.49%), and Semiconductor Components/Devices (5.06%). Please see Table 2.
Meanwhile, Communication/Radar decreased by 14.43%, from US$ 60.01 million to US$ 51.35 million. This was followed by Medical/Industrial Instrumentation (5.35%).
B. PH Electronics Exports: (Year-on-Year)
The Philippine Electronics exports increased by 11.79%, from US$ 3.80 billion in June 2022 to US$ 4.25 billion in June 2023, as shown in Fig. 2.
Exports in four (4) sectors increased, led by Medical/Industrial Instrumentation at 34.85%, from US$ 16.41 million to US$ 22.13 million. It was followed by Semiconductor Components/Devices (22.34%), Communication/Radar (19.58%), and Consumer Electronics (8.42%).
Automotive Electronics decreased the most at 54.00%, from US$ 9.28 million to US$ 4.27 million. This was followed by Office Equipment (36.44%), Telecommunication (29.89%), Electronic Data Processing (29.24%), and Control and Instrumentation (12.49%). Kindly refer to Table 2.
Fig. 2: PH Electronics Exports (June 2022 vs June 2023)
C. PH Electronics Exports (Year-to-Date)
Fig. 3: PH Electronics Exports (January – June 2022 vs. January – June 2023)
Year-to-date electronics exports went down by 6.99%, from US$ 22.78 billion in 2022 to US$ 21.19 billion in 2023, equivalent to 60.63% of the total Philippine exports. Please see Fig. 3.
Exports from six (6) sectors decreased from last year’s YTD figures, led by Automotive Electronics at 70.44%, from US$ 63.26 million to US$ 18.70 million. This was followed by Office Equipment (44.03%), Electronic Data Processing (32.20%), Telecommunication (25.82%) Semiconductor Components/Devices (4.35%), and Control and Instrumentation (0.94%). Please see Table 3.
Meanwhile, the exports of Communication/Radar improved by 23.43%, from US$ 248.70 million to US$ 306.96 million. This was followed by Medical/Industrial Instrumentation (20.08%), and Consumer Electronics (17.38%).
COUNTRIES OF DESTINATION (JUNE 2023)
Table 1 shows the top five (5) export destinations in June 2023, namely, Hong Kong (20.82%), the USA (14.17%), China (11.13%), Japan (7.32%), and Singapore (6.27%).
Table 1: Top 5 Destination Countries for Electronics (May 2023 vs June 2023)
The other destinations in the top ten were the Netherlands (6.10%), Germany (4.12%), Taiwan (3.84%), South Korea (3.74%), and Malaysia (3.01%).
Fig. 4: Top Exported Products, June 2023
The top exported electronics products in June 2023 are in Fig. 4.
Integrated circuits bound for Hong Kong increased by 34.14%. 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
