MARCH 2023 PHILIPPINE ELECTRONICS IMPORT PERFORMANCE
Electronics imports in March 2023 rose by 9.58% to US$ 2.34 billion, or 20.44% of the country’s US$ 11.46 billion total commodity imports.
A. PH Electronics Imports: (Month-on-Month)
Fig. 1: PH Electronics Imports (January 2023 vs March 2023)
The country’s electronics imports went up by 9.58% from US$2.14 billion in February 2023 to US$ 2.34 billion in March 2023. See Fig. 1.
Imports in all sectors increased. This was led by Automotive Electronics at 67.17%, from US$ 3.43 million to US$ 5.73 million, followed by Office Equipment (49.75%), Medical/Industrial Instrumentation (41.10%), Electronic Data Processing (37.99%), Consumer Electronics (35.53%), Control and Instrumentation (23.48%), Telecommunication (21.50%), Semiconductor Components/Devices (4.24%), and Communication/Radar (0.42%).
B. PH Electronics Imports: (Year-on-Year)
The electronics imports contracted by 15.07%, fromUS $2.76 billion in March 2022 to US$ 2.34 billion in March 2023, as shown in Fig. 2.
Electronics imports in four (4) sectors declined, led by Electronic Data Processing at 30.60%, from US$ 319.30 million to US$ 221.61 million. It was followed by Telecommunication (24.69%), Semiconductor Components/Devices (16.47%), and Consumer Electronics (7.05%), as shown in Table 2.
Five (5) sectors went up, namely, Automotive Electronics at 83.84%, from US$ 3.12 million in 2022 to US$ 5.73 million in 2023. This was followed by Office Equipment (53.79%), Medical/Industrial Instrumentation (26.70%), Communication/Radar (19.43%), and Control and Instrumentation (17.57%).
Fig. 2: PH Electronics Imports (March 2022 vs March 2023)
C. PH Electronics Imports (Year-to-Date)
Fig. 3: PH Electronics Exports (January – March 2022 vs. January – March 2023)
Cumulative electronics imports contracted by 13.94%, from US$ 8.05 billion last year to US$ 6.92 billion this year. These comprised 22.02% 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 (37.96%) from US$ 986.51 million to US$ 612.02 million. Following it were Telecommunication (19.41%), Consumer Electronics (16.37%), and Semiconductor Components/Devices (13.03%).
On the other hand, Office Equipment increased by 76.15%, from US$ 38.41 million to US$ 67.7 million. It is followed by Automotive Electronics (33.00%), Communication/Radar (21.99%), Medical/Industrial Instrumentation (15.01%), and Control and Instrumentation (6.92%). Kindly refer to Table 3.
COUNTRIES OF ORIGIN (MARCH 2023)
Table 1 shows that the top five (5) countries of origin of electronics imports in March 2023 were China (19.29%), Taiwan (15.17%), Japan (11.68%), South Korea (10.74%), and the USA (9.44%).
Table 1: Top 5 Countries of Origin for Electronics Imports (January 2023 vs March 2023)
The rest of the top ten countries of origin were Singapore (7.70%), Hong Kong (5.26%), Malaysia (5.18%), Vietnam (3.16%), and Thailand (2.99%).
Fig. 4: Top Imported Products (March 2023)
Fig. 4 shows the top imported electronics products in March 2023. Integrated circuits imported from South Korea increased by 25.29%, while the Materials and accessories for the manufacture of semiconductor devices dropped by 44.22%. 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
