NOVEMBER 2023 PHILIPPINE ELECTRONICS IMPORT PERFORMANCE

Electronics imports in November 2023 increased by 0.57% to US$ 2.21 billion, which is 20.43% of the country’s US$ 10.82 billion total commodity imports.

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

Fig. 1: PH Electronics Imports

(October 2023 vs November 2023)

The country’s electronics imports went up from US$ 2.207 billion in September 2023 to US$ 2.210 billion in November 2023. See Fig. 1.

Imports in seven (7) electronics sectors increased. This was led by Telecommunication at 29.96%, from US$ 100.82 million to US$ 131.02 million, followed by Electronic Data Processing (25.95%), Control and Instrumentation (17.30%), Communication/Radar (13.64%), Consumer Electronics (12.59%), Medical/Industrial Instrumentation (12.18%), and Automotive Electronics (8.52%).

Meanwhile, imports from two (2) electronics sectors contracted, namely Office Equipment (12.40%), and Semiconductor Components/Devices (8.11%).

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

The electronics imports declined by 16.37%, from US$ 2.64 billion in November 2022 to US$ 2.21 billion in November 2023, as shown in Fig. 2.

Semiconductor Components/Devices decreased by 30.98%, from US$ 2.04 billion to US$ 1.41 billion, as shown in Table 2.

Eight (8) sectors increased, namely, Automotive Electronics (125.07%), Control and Instrumentation (120.36%), Communication/Radar (77.07%), Consumer Electronics (56.70%), Telecommunication (19.91%), Medical/Industrial Instrumentation (16.87%), Office Equipment (6.61%), and Electronic Data Processing (2.53%).

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

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

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

vs.  January – November 2023)

Cumulative electronics imports shrunk by 19.16%, from US$ 30.33 billion in 2022 to US$ 24.52 billion in 2023. These comprised 21.14% of the total Philippine commodity imports YTD (See Fig. 3.).

Imports for four (4) out of nine (9) electronics sectors decreased, led by Electronic Data Processing (33.64%) from US$ 3.38 billion to US$ 2.24 billion. This was followed by Semiconductor Components/Devices (22.00%), Telecommunication (10.34%), and Consumer Electronics (8.01%)

On the other hand, Office Equipment rose by 27.11%, from US$ 168.86 million to US$ 214.63 million. It was followed by Automotive Electronics (22.77%), Medical/Industrial Instrumentation (22.60%), Control and Instrumentation (19.30%), and Communication/Radar (16.93%). Kindly refer to Table 3.

COUNTRIES OF ORIGIN (NOVEMBER 2023)

Table 1 shows that the top five (5) countries of origin of electronics imports in November 2023 were China (24.61%), Japan (13.34%), South Korea (10.73%), Taiwan (9.64%), and Singapore (9.08%). These were likewise the countries of origin in the same order in October 2023.

Table 1: Top 5 Countries of Origin for Electronics Imports

(August 2023 vs September 2023)

The rest of the top ten countries of origin were the USA (9.02%), Hong Kong (5.70%), Malaysia (4.69%), Thailand (2.57%), and Vietnam (2.37%).

Fig. 4: Top Imported Products (November 2023)

Fig. 4 shows the top imported electronics products in November 2023.

Materials and accessories for the manufacture of semiconductor devices imported from China increased by 22.37%. Meanwhile, materials and accessories for the manufacture of semiconductor devices imported from Taiwan decreased by 22.61%.  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

 

 

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