Electronics exports improved by 9.48% in July 2024 to US$ 3.57 billion, which is 57.09% of the US$ 6.25 billion total Philippine exports.
A. PH Electronics Exports: (Month-on-Month)
Fig. 1: PH Electronics Exports (June 2024 vs July 2024)
Electronics exports went up from US$ 3.26 billion in June 2024 to US$ 3.57 billion in July 2024, as shown in Fig. 1.
Exports in eight (8) sectors increased as shown in Table 2. This was led by Medical/Industrial Instrumentation at 122.77%, from US$ 22.48 million to US$ 50.08 million. This was followed by Communication/Radar (50.67%), Control and Instrumentation (43.23%), Electronic Data Processing (26.51%), Telecommunication (26.03%), Consumer Electronics (23.27%), Automotive Electronics (7.43%), and Semiconductor Components/Devices (2.46%).
Meanwhile, Office Equipment decreased by 5.00%, from US$ 26.18 million to US$ 24.87 million.
The Philippine Electronics exports declined by 10.68%, from US$ 3.99 billion in July 2023 to US$ 3.57 billion in July 2024, as shown in Fig. 2.
Exports in two (2) sectors went down, led by Office Equipment at 23.20%, from US$ 32.39 million to US$ 24.87 million. It was followed by Semiconductor Components/Devices (22.63%).
Automotive Electronics improved by 132.06%, from US$ 2.49 million to US$ 5.77 million. This was followed by Medical/Industrial Instrumentation (123.98%), Telecommunication (55.35%), Consumer Electronics (52.18%), Electronic Data Processing (46.56%), Control and Instrumentation (19.69%), and Communication/Radar (0.71%). Kindly refer to Table 2.
Fig. 2: PH Electronics Exports (July 2023 vs July 2024)
Fig. 3: PH Electronics Exports (January – July 2023 vs. January – July 2024)
Year-to-date electronics exports rose by 1.66%, from US$ 25.48 billion in 2023 to US$ 25.91 billion in 2024, which is equivalent to 60.73% of the total Philippine exports. Please see Fig. 3.
Exports from six (6) sectors went up from last year’s YTD figures, led by Automotive Electronics at 78.29%, from US$ 21.19 million to US$ 37.77 million. This was followed by Medical Industrial Instrumentation (48.68%), Electronic Data Processing (28.47%), Telecommunication (17.92%), Consumer Electronics (16.99%), and Control and Instrumentation (7.70%). Please see Table 3.
Meanwhile, Office Equipment contracted by 13.26%, from US$ 202.15 million to US$ 175.34 million. It was followed by Communication/Radar (7.54%), and Semiconductor Components/Devices (1.86%).
COUNTRIES OF DESTINATION (JULY 2024)
Table 1 shows the top five (5) export destinations in July 2024, namely, Hong Kong (17.17%), the USA (14.02%), China (9.94%), Japan (7.03%), and Taiwan (5.54%).
Table 1: Top 5 Destination Countries for Electronics Exports (June 2024 vs July 2024)
The other destinations in the top ten were Germany (5.27%), Singapore (4.95%), Malaysia (4.95%), South Korea (4.40%), and Thailand (3.99%).
Fig. 4: Top Exported Products, July 2024
The top exported electronics products in July 2024 are in Fig. 4. Parts and accessories of data processing machines under electronic data processing bound for Thailand increased by 92.72%. Meanwhile, Integrated Circuits bound for Hong Kong decreased by 67.29%. 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
