NOVEMBER 2022 PHILIPPINE ELECTRONICS EXPORT PERFORMANCE
Electronics exports declined by 9.97% in November 2022 to US$ 4.88 billion, which was 68.67% of the US$ 7.10 billion in total Philippine exports for the month.
A. PH Electronics Exports: (Month-on-Month)
Fig. 1: PH Electronics Exports (October 2022 November 2022)
Electronics exports contracted from US$ 5.42 billion in October 2022 to US$ 4.88 billion in November 2022, as shown in Fig. 1.
Exports in four (4) sectors decreased, as shown in Table 2. It was led by Semiconductor Components/Devices at 12.94%, from US$ 4.30 billion to US$ 3.74 billion, followed by Office Equipment (1.55%), Communication/Radar (0.69%), and Electronic Data Processing (0.56%). Please see Table 2.
Conversely, Consumer Electronics increased by 13.11%, from US$ 93.94 million to US$ 106.26 million. Medical/Industrial Instrumentation (9.81%) came next, followed by Telecommunication (8.60%), Automotive Electronics (4.24%), and Control and Instrumentation (3.19%). Kindly refer to Table 2.
B. PH Electronics Exports: (Year-on-Year)
The Philippine Electronics exports rose by 22.18%, from US$ 3.99 billion in November 2021 to US$ 4.88 billion in November 2022, as shown in Fig. 2.
Exports in four sectors grew, led by Semiconductor Components/Devices at 42.41%, from US$ 2.63 billion to US$ 3.74 billion. It was followed by Consumer Electronics (26.35%), Control and Instrumentation (22.69%), and Medical/Industrial Instrumentation (7.98%)
Office Equipment products had the highest decline at 50.94%, from US$ 64.07 million to US$ 31.43 million. This was followed by Telecommunication (37.22%), Electronic Data Processing (31.46%), Automotive Electronics (21.96%), and Communication/Radar (16.13%).
Fig. 2: PH Electronics Exports (November 2021 vs November 2022)
C. PH Electronics Exports (Year-to-Date)
Fig. 3: PH Electronics Exports (January – November 2021 vs. January – November 2022)
Year-to-date electronics exports went up by 8.66%, from US$ 41.99 billion in 2021 to US$ 45.63 billion in 2022, which is 62.36% of the total Philippine exports. Please see Fig. 3.
Exports from four (4) sectors improved from last year’s YTD figures, led by Telecommunication at 37.05%, from US$ 635.83 million to US$ 871.39 million. This was followed by Semiconductor Components/Devices (16.21%), Control and Instrumentation (15.35%), and Automotive Electronics (6.05%). Please see Table 3.
Meanwhile, exports in Office Equipment declined by 18.39%, from US$ 575.58 million to US$ 469.71 million. This was followed by Electronic Data Processing (16.77%), Consumer Electronics (8.71%), Medical/Industrial Instrumentation (5.58%), and Communication/Radar (3.96%).
COUNTRIES OF DESTINATION NOVEMBER 2022)
Table 1 shows the top five (5) export destinations in November 2022, namely, Hong Kong (21.85%), the USA (13.96%), China (9.36%), Japan (7.16%), and Singapore (6.73%).
Table 1: Top 5 Destination Countries for Electronics (October 2022 vs November 2022)
The other destinations in the top ten were Taiwan (5.66%), Germany (5.02%), the Netherlands (4.21%), South Korea (3.90%), and Malaysia (3.28%).
Fig. 4: Top Exported Products, November 2022
The top exported electronics products in November 2022 are in Fig. 4. Integrated circuits bound for Hong Kong increased by 11.62%. Conversely, processors and controllers bound for Singapore decreased by 29.54%. 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
