MARCH 2023 PHILIPPINE ELECTRONICS EXPORT PERFORMANCE
Electronics exports rose by 27.35% in March 2023 to US$ 3.83 billion, or 58.72% of the US$ 6.53 billion in total Philippine exports.
A. PH Electronics Exports: (Month-on-Month)
Fig. 1: PH Electronics Exports (February 2023 vs March 2023)
Electronics exports went up from US$ 3.01 billion in February 2023 to US$ 3.83 billion in March 2023, as shown in Fig. 1.
Exports in eight (8) sectors increased as shown in Table 2. This was led by Semiconductor Components/Devices at 36.71%, from US$ 1.99 billion to US$ 2.72 billion, followed by Control and Instrumentation (22.15%), Telecommunication (20.75%), Medical/Industrial Instrumentation (17.18%), Communication/Radar (13.37%), Electronic Data Processing (11.67%), Consumer Electronics (7.22%), and Automotive Electronics (2.29%). Please see Table 2.
Conversely, Office Equipment decreased by 24.79%, from US$ 38.94 million to US$ 29.29 million.
B. PH Electronics Exports: (Year-on-Year)
The Philippine Electronics exports contracted by 10.16%, from US$ 4.27 billion in March 2022 to US$ 3.83 billion in March 2023, as shown in Fig. 2.
Exports in six (6) sectors declined, led by Automotive Electronics at 70.11%, from US$ 10.50 million to US$3.14 million. It was followed by Office Equipment (47.68%), Electronic Data Processing (30.49%), Telecommunication (25.91%), Semiconductor Components/Devices (9.19), and Communication/Radar (1.47%)
Consumer Electronics climbed the most at 32.98%, from US$ 78.32 million to US$ 104.15 million. This was followed by Medical/Industrial Instrumentation (7.62%), and Control and Instrumentation (6.65%). Kindly refer to Table 2.
Fig. 2: PH Electronics Exports (March 2022 vs March 2023)
C. PH Electronics Exports (Year-to-Date)
Fig. 3: PH Electronics Exports (January – March 2022 vs. January – March 2023)
Year-to-date electronics exports declined by 15.29%, from US$ 11.77 billion in 2022 to US$ 9.97 billion in 2023, equivalent to 59.12% of the total Philippine exports. Please see Fig. 3.
Exports from five (5) sectors decreased from last year’s YTD figures, led by Automotive Electronics at 74.88%, from US$ 36.92 million to US$ 9.27 million. This was followed by Office Equipment (45.54%), Electronic Data Processing (27.55%), Telecommunication (18.25%), and Semiconductor Components/Devices (16.69%). Please see Table 3.
Meanwhile, the export of Consumer Electronics gained 16.71%, from US$ 230.41 million to US$ 268,92 million. This was followed by Medical/Industrial Instrumentation (9.39%), Control and Instrumentation (1.90%), and Communication/Radar (1.53%).
COUNTRIES OF DESTINATION MARCH 2023
Table 1 shows the top five (5) export destinations in March 2023, namely, China (22.56%), Hong Kong (12.09%), the USA (10.97%), Singapore (7.65%), and Japan (5.88%).
Table 1: Top 5 Destination Countries for Electronics (February 2023 vs March 2023)
The other destinations in the top ten were Germany (5.46%), Taiwan (4.41%), the Netherlands (3.37%), Thailand (3.35%), and South Korea (2.86%).
Fig. 4: Top Exported Products, March 2023
The top exported electronics products in March 2023 are in Fig. 4. Integrated circuits bound for China increased by 364.50%. Conversely, parts and accessories of data processing machines bound under electronic data processing for Thailand decreased by 13.27%. 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
