NOVEMBER 2023 PHILIPPINE ELECTRONICS EXPORT PERFORMANCE

Electronics exports contracted by 4.94% in October 2023 to US$ 3.75 billion, which is 61.28% of the US$ 6.13 billion in total Philippine exports.

A. PH Electronics Exports: (Month-on-Month)

Fig. 1: PH Electronics Exports

(October 2023 vs November 2023)

Electronics exports decreased from US$ 3.95 billion in October 2023 to US$ 3.75 billion in November 2023, as shown in Fig. 1.

Exports in all sectors went down as shown in Table 2. This was led by Medical/Industrial Instrumentation at 53.27%, from US$ 49.72 million to US$ 23.23 million, followed by Telecommunication (45.01%), Control and Instrumentation (20.74%), Communication/Radar (19.15%), Office Equipment (14.82%), Automotive Electronics (11.50%), Electronic Data Processing (4.28%), Semiconductor Components/Devices (2.05%), and Consumer Electronics (0.18%). Please see Table 2

B. PH Electronics Exports: (Year-on-Year)

The Philippine Electronics exports decreased by 22.98%, from US$ 4.87 billion in November 2022 to US$ 3.75 billion in November 2023, as shown in Fig. 2.

Exports in seven (7) sectors contracted, led by Office Equipment at 34.66%, from US$ 31.43 million to US$ 20.54 million. It was followed by Automotive Electronics (27.72%), Telecommunication (26.26%), Semiconductor Components/Devices (25.69%), Control and Instrumentation (23.69%), Electronic Data Processing (21.85%), and Consumer Electronics (18.93%).

Consumer Electronics improved the most at 13.90%, from US$ 41.39 million to US$ 47.14 million. This was followed Medical/Industrial Instrumentation (13.61%). Kindly refer to Table 2.

Fig. 2: PH Electronics Exports (November 2022 vs  November 2023)

 C.  PH Electronics Exports (Year-to-Date)

Fig. 3: PH Electronics Exports (January – November 2022 vs January – November 2023)

Year-to-date electronics exports declined by 9.06%, from US$ 45.58 billion in 2022 to US$ 41.45 billion in 2023, equivalent to 61.84% of the total Philippine exports. Please see Fig. 3.

Exports from six (6) sectors went down from last year’s YTD figures, led by Automotive Electronics at 58.45%, from US$ 89.79 million to US$ 37.30 million. This was followed by Office Equipment (35.20%), Electronic Data Processing (30.27%), Telecommunication (11.01%), Semiconductor Components/Devices (7.77%), and Control and Instrumentation (3.76%). Please see Table 3.

Meanwhile, Medical Industrial Instrumentation exports went up by 46.56%, from US$ 194.88 million to US$ 285.61 million. This was followed by Communication Radar (22.88%), and Consumer Electronics (2.46%).

COUNTRIES OF DESTINATION NOVEMBER 2023

Table 1 shows the top five (5) export destinations in November 2023, namely, Hong Kong (17.19%), the USA (15.08%), China (9.77%), Japan (7.42%), and Singapore (5.43%). These were likewise the countries of destination in the same order in October 2023.

Table 1: Top 5 Countries of Origin for Electronics Exports

(October 2023 vs November 2023)

The other destinations in the top ten were the Netherlands (5.04%), South Korea (4.41%), Taiwan (4.33%), Germany (4.18%), and Thailand (3.50%).

Fig. 4: Top Exported Products, November 2023

The top exported electronics products in November 2023 are in Fig. 4. Integrated Circuits bound for China increased by 23.40%. Meanwhile, Parts and accessories of data processing machines under EDP bound for Thailand decreased by 18.65%. 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

 

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