MARCH 2022 PHILIPPINE ELECTRONICS IMPORT PERFORMANCE
Electronics imports in March 2022 went up by 10.64% to US$ 2.76 billion, or 22.64% of the country’s US$ 12.17 billion total commodity imports for the month.
A. PH Electronics Imports: (Month-on-Month)
Fig. 1: PH Electronics Imports (February 2022 vs March)
The country’s electronics imports rose by 10.64%, from US$ 2.49 billion in February 2022 to US$ 2.76 billion in March 2022 (See Fig. 1).
Imports in six (6) sectors increased, as shown in Table 2. Medical/Industrial Instrumentation gained the most at 35.24%, from US$ 13.29 million in February 2022 to US$ 17.97 million in March 2022. This was followed by Office Equipment (30.11%), Communication/Radar (24.91%), Telecommunication (21.92%), Semiconductor Components/Devices (11.79%), and Control and Instrumentation (10.67%)
Meanwhile, Consumer Electronics declined by 1.99%, followed by Electronic Data Processing (1.80%), and Automotive Electronics (0.39%). (See Table 2).
B. PH Electronics Imports: (Year-on-Year)
The electronics imports climbed by 7.63%, from US$ 2.56 billion in March 2021 to US$ 2.76 billion in March 2022, as shown in Fig. 2.
Electronics imports in four (4) sectors went up, led by Semiconductor Components/Devices at 16.26%, from US$ 1.70 billion in March 2021 to US$ 1.97 billion in March 2022. This was followed by Control and Instrumentation (14.41%), Telecommunication (11.22%), and Automotive Electronics (6.88%) as shown in Table 2.
Five (5) sectors decreased, namely Medical/Industrial Instrumentation (20.92%), Electronic Data Processing (18.85%), Office Equipment (12.47%), Consumer Electronics (11.45%), and Communication/Radar (11.08%).
Fig. 2: PH Electronics Imports (March 2021 vs March 2022)
C. PH Electronics Imports (Year-to-Date)
Fig. 3: PH Electronics Exports (January-March 2021 vs. January- March 2022)
Cumulative electronics imports gained 11.49%, from US$ 7.22 billion last year to US$ 8.04 billion this year. These comprised 24.15% of the total Philippine commodity imports YTD (See Fig. 3.).
Imports for five (5) out of nine (9) electronics sectors grew, led by Control and Instrumentation (34.32%), from US$ 167.67 million to US$ 225.21 million. This was followed by Telecommunication (21.77%), Semiconductor Components/Devices (17.51%), Medical/Industrial Instrumentation (4.43%), and Consumer Electronics (4.10%).
Conversely, Office Equipment declined by 18.61%, followed by Automotive Electronics (18.10%), Electronic Data Processing (10.95%), and Communication/Radar (10.23%).
COUNTRIES OF ORIGIN (MARCH 2022)
Table 1 shows that the top five (5) countries of origin of electronics imports in March 2022 were China (19.61%), Japan (13.89%), Taiwan (13.79%), Korea (13.23%), and Singapore (9.76%).
Table 1: Top 5 Countries of Origin for Electronics Imports (February 2022 vs March 2022)
The rest of the top ten countries of origin were the USA (7.59%), Hong Kong (6.60%), Malaysia (3.14%), Thailand (3.04%), and Vietnam (2.60%).
Fig. 4: Top Imported Products (March 2022)
Fig. 4 shows the top imported electronics products in March 2022. Materials and accessories for the manufacture of semiconductor devices imported from China rose by 36.68%. Meanwhile, laptops under EDP imported from China dropped by 18.35%. 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
