PHILIPPINE ELECTRONICS EXPORT PERFORMANCE JANUARY 2024
The Electronics Industry remained the country’s top exporter for the month of January 2024, accounting for US$ 3.75 billion or 63.17% of the US$ 5.94 billion total Philippine commodity exports.
A. PH Electronics Exports: (Month-on-Month)
Fig. 1: PH Electronics Exports (December 2023 vs January 2024)
Electronics exports increased by 2.74% from US$ 3.65 billion in December 2023 to US$ 3.75 billion in January 2024, as shown in Fig. 1.
Exports in five (5) sectors improved as shown in Table 2. This was led by Office Equipment at 59.18%, from US$ 16.22 million to US$ 25.81 million, followed by Telecommunication (46.52%), Electronic Data Processing (25.24%), Communication/Radar (23.45%), and Automotive Electronics (19.54%). Please see Table 2.
Meanwhile, Consumer Electronics declined the most by 14.35%%, from US$ 82.71 million to US$ 70.84 million. This was followed by Control and Instrumentation (2.78%), Medical/Industrial Instrumentation (2.39%), and Semiconductor Components/Devices (1.58%).
B. PH Electronics Exports: (Year-on-Year)
The Philippine Electronics exports rose by 15.10%, from US$ 3.26 billion in January 2023 to US$ 3.75 billion in January 2024, as shown in Fig. 2.
Exports in eight (8) sectors went up, led by Automotive Electronics at 65.88%, from US$ 3.07 million to US$ 5.09 million. It was followed by Medical/Industrial Instrumentation (51.56%), Semiconductor Components/Devices (19.85%), Communication/Radar (15.12%), Office Equipment (6.59%), Electronic Data Processing (6.10%), Control and Instrumentation (3.73%), and Consumer Electronics (3.55%)
Telecommunication shrunk by 16.23% from US$ 86.60 million to US$ 72.54 million. Kindly refer to Table 2.
Fig. 2: PH Electronics Exports (January 2023 vs January 2024)
COUNTRIES OF DESTINATION (JANUARY 2024)
Table 1 shows the top five (5) export destinations in January 2024, namely, Hong Kong (18.18%), the USA (13.30%), China (9.32%), Japan (7.20%), and the Netherlands (5.44%).
Table 1: Top 5 Destination Countries for Electronics (December 2023 vs January 2024)
The other destinations in the top ten were Taiwan (5.37%), Singapore (4.53%), Germany (4.48%), South Korea (4.42%), and Thailand (3.92%).
Fig. 3: Top Exported Products, January 2024
The top exported electronics products in January 2024 are in Fig. 4. Parts and accessories of data processing machines under Electronic Data Processing bound for Thailand increased by 23.47%. Meanwhile, processors and controllers under Semiconductors Components/ Devices bound for Hong Kong decreased by 7.36%. 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 and Countries of Destination
