OCTOBER 2023 PHILIPPINE ELECTRONICS EXPORT PERFORMANCE

Electronics exports decreased by 10.24% in October 2023 to US$ 3.95 billion, which is 62.05% of the US$ 6.36 billion in total Philippine exports.

 

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

Fig. 1: PH Electronics Exports (September 2023 vs October)

 

Electronics exports contracted from US$ 4.40 billion in September 2023 to US$ 3.95 billion in October 2023, as shown in Fig. 1.

Exports in four (4) sectors declined as shown in Table 2. This was led by Semiconductor Components/Devices at 14.63%, from US$ 3.32 billion to US$ 2.83 billion, followed by Consumer Electronics (10.24%), Office Equipment (9.26%), and Electronic Data Processing (8.34%). Please see Table 2.

Meanwhile, Telecommunication increased the most by 56.10%, from US$ 72.62 million to US$ 113.36 million. This was followed by Medical/Industrial Instrumentation (41.54%), Automotive Electronics (21.07%), Communication/Radar (12.26%), and Control and Instrumentation (9.18%).

 

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

The Philippine Electronics exports went down by 27.03%, from US$ 5.41 billion in October 2022 to US$ 3.95 billion in October 2023, as shown in Fig. 2.

Exports in five (5) sectors decreased, led by Semiconductor Components/Devices at 33.97%, from US$ 4.29 billion to US$ 2.83 billion. It was followed by Office Equipment (24.22%), Electronic Data Processing (18.82%), Automotive Electronics (14.87%), and Consumer Electronics (7.96%).

Medical/Industrial Instrumentation increased the most at 166.99%, from US$ 18.62 million to US$ 49.72 million. This was followed by Telecommunication (45.63%), Communication/Radar (39.90%), and Control and Instrumentation (1.20%). Kindly refer to Table 2.

 

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

 

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

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

 

Year-to-date electronics exports decreased by 7.39%, from US$ 40.71 billion in 2022 to US$ 37.70 billion in 2023, equivalent to 61.90% of the total Philippine exports. Please see Fig. 3.

Exports from six (6) sectors contracted from last year’s YTD figures, led by Automotive Electronics at 60.48%, from US$ 84.24 million to US$ 33.29 million. This was followed by Office Equipment (35.22%), Electronic Data Processing (31.00%), Telecommunication (9.38%), Semiconductor Components/Devices (5.48%), and Control and Instrumentation (1.42%). Please see Table 3.

Meanwhile, Medical Industrial Instrumentation exports went up by 50.42%, from US$ 174.43 million to US$ 262.38 million. This was followed by Communication Radar (23.77%), and Consumer Electronics (5.40%).

 

COUNTRIES OF DESTINATION OCTOBER 2023

Table 1 shows the top five (5) export destinations in October 2023, namely, Hong Kong (16.87%), the USA (13.52%), China (9.94%), Japan (7.79%), and Singapore (5.63%).

Table 1: Top 5 Destination Countries for Electronics (September 2023 vs October 2023)

 

The other destinations in the top ten were the Netherlands (4.55%), South Korea (4.46%), Taiwan (4.44%), Germany (3.94%), and Malaysia (3.75%).

Fig. 4: Top Exported Products, October 2023

 

The top exported electronics products in October 2023 are in Fig. 4. Integrated Circuits bound for Singapore increased by 10.18%. Meanwhile, Integrated Circuits bound for China decreased by 62.34%. 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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