SEPTEMBER 2023 PHILIPPINE ELECTRONICS EXPORT PERFORMANCE

Electronics exports improved by 4.64% in September 2023 to US$ 4.40 billion, which is 65.44% of the US$ 6.73 billion in total Philippine exports.

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

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

Electronics exports increased from US$ 4.21 billion in August 2023 to US$ 4.40 billion in September 2023, as shown in Fig. 1.

 

Exports in four (4) sectors increased as shown in Table 2. This was led by Medical/Industrial Instrumentation at 47.57%, from US$ 23.81 million to US$ 35.13 million, followed by Consumer Electronics (32.71%), Semiconductor Components/Devices (6.80%), and Control and Instrumentation (0.42%). Please see Table 2.

 

Meanwhile, Office Equipment decreased the most by 16.64%, from US$ 30.97 million to US$ 25.82 million. This was followed by Electronic Data Processing (4.94%), Telecommunication (4.53%), Automotive Electronics (2.21%), and Communication/Radar (0.82%).

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

The Philippine Electronics exports declined by 9.13%, from US$ 4.85 billion in September 2022 to US$ 4.40 billion in September 2023, as shown in Fig. 2.

 

Exports in six (6) sectors decreased, led by Automotive Electronics at 32.78%, from US$ 5.57 million to US$ 3.74 million. It was followed by Office Equipment (32.62%), Electronic Data Processing (27.16%), Consumer Electronics (17.45%), Semiconductor Components/Devices (7.74%), and Control and Instrumentation (3.33%).

 

Medical/Industrial Instrumentation increased the most at 146.83%, from US$ 14.23 million to US$ 35.13 million. This was followed by Communication/Radar (44.70%), and Telecommunication (8.29%). Kindly refer to Table 2.

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

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

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

Year-to-date electronics exports contracted by 4.37%, from US$ 35.30 billion in 2022 to US$ 33.75 billion in 2023, equivalent to 61.89% 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 63.56%, from US$ 78.91 million to US$ 28.76 million. This was followed by Office Equipment (36.29%), Electronic Data Processing (32.26%), Telecommunication (15.50%), Control and Instrument (1.75%), and Semiconductor Components/Devices (0.56%). Please see Table 3.

 

Meanwhile, Medical Industrial Instrumentation exports improved by 36.49%, from US$ 155.80 million to US$ 212.66 million. This was followed by Communication Radar (22.02%), and Consumer Electronics (8.01%).

COUNTRIES OF DESTINATION SEPTEMBER 2023

Table 1 shows the top five (5) export destinations in September 2023, namely, Hong Kong (17.15%), the USA (13.58%), China (13.12%), Japan (6.62%), and Taiwan (5.48%).

Table 1: Top 5 Destination Countries for Electronics

(August 2023 vs September 2023)

 

The other destinations in the top ten were Singapore (5.02%), Netherlands (4.87%), South Korea (4.22%), Germany (4.10%), and Taiwan (3.40%).

Fig. 4: Top Exported Products, September 2023

The top exported electronics products in September 2023 are in Fig. 4. Processors and controllers under Semiconductors Components/ Devices bound for China increased by 24.92%. Meanwhile, Integrated Circuits bound for Hong Kong decreased by 17.83%. 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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