JUNE 2023 PHILIPPINE ELECTRONICS IMPORT PERFORMANCE
Electronics imports in June 2023 contracted by 4.31% to US$ 2.11 billion, or 19.87% of the country’s US$ 10.62 billion total commodity imports.
A. PH Electronics Imports: (Month-on-Month)
Fig. 1: PH Electronics Imports (May 2023 vs June 2023)
The country’s electronics imports decreased by 4.31% from US$ 2.20 billion in May 2023 to US$ 2.11 billion in June 2023. See Fig. 1.
Electronic imports in five (5) sectors increased. This was led by Automotive Electronics at 18.16%, from US$ 5.75 million to US$ 4.71 million, followed by Consumer Electronics (10.31%), Semiconductor Components/Devices (6.63%), Office Equipment (5.38%), and Telecommunication (2.75%).
Meanwhile, Medical/Industrial Instrumentation increased by 19.40% from US$ 19.70 million to US$ 23.52 million. This was followed by Electronic Data Processing (10.18%), Control and Instrumentation (4.44%), and Communication/Radar (0.48%).
B. PH Electronics Imports: (Year-on-Year)
The electronics imports went down by 26.40%, from US$ 2.87 billion in June 2022 to US$ 2.11 billion in June 2023, as shown in Fig. 2.
Electronics imports in four (4) sectors contracted, led by Electronic Data Processing at 39.54%, from US$ 321.43 million to US$ 194.33 million. It was followed by Semiconductor Components/Devices (29.57%), Telecommunication (19.82%), and Consumer Electronics (15.73%), as shown in Table 2.
Five (5) sectors went up, namely, Office Equipment (52.23%), Medical/Industrial Instrumentation (51.43%), Control and Instrumentation (19.60%), Communication/Radar (17.21%), and Automotive Electronics (5.58%).
Fig. 2: PH Electronics Imports (June 2022 vs June 2023)
C. PH Electronics Imports (Year-to-Date)
Fig. 3: PH Electronics Exports (January – June 2022 vs. January – June 2023)
Cumulative electronics imports decreased by 17.74%, from US$ 16.27 billion last year to US$ 13.39 billion this year. These comprised 21.28% of the total Philippine commodity imports YTD (See Fig. 3.).
Imports for four (4) out of nine (9) electronics sectors declined, led by Electronic Data Processing (39.17%) from US$ 1.94 billion to US$ 1.18 billion. This was followed by Telecommunication (21.54%), Consumer Electronics (19.05%), and Semiconductor Components/Devices (17.19%).
On the other hand, Office Equipment increased by 54.00%, from US$ 78.95 million to US$ 121.58 million. It was followed by Automotive Electronics (29.13%), Medical/Industrial Instrumentation (24.02%), Communication/Radar (9.14%), and Control and Instrumentation (8.50%). Kindly refer to Table 3.
COUNTRIES OF ORIGIN (JUNE 2023)
Table 1 shows that the top five (5) countries of origin of electronics imports in June 2023 were China (20.16%), Taiwan (13.08%), Japan (13.06%), South Korea (9.74%), and the USA (9.59%).
Table 1: Top 5 Countries of Origin for Electronics Imports (May 2023 vs June 2023)
The rest of the top ten countries of origin were Singapore (7.92%), Hong Kong (6.36%), Malaysia (5.78%), Thailand (3.56%), and Vietnam (2.28%).
Fig. 4: Top Imported Products (June 2023)
Fig. 4 shows the top imported electronics products in June 2023. Materials and accessories for the manufacture of semiconductor devices imported from China increased by 42.38%. Meanwhile, materials and accessories for the manufacture of semiconductor devices imported from South Korea decreased by 14.46%. 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
