Electronics imports in July 2024 grew by 14.01% to US$ 2.53 billion, which is 22.80% of the country’s US$ 11.12 billion total commodity imports.
Fig. 1: PH Electronics Imports (June 2024 vs July 2024)
The country’s electronics imports went up from US$ 2.22 billion in June 2024 to US$ 2.53 billion in July 2024. See Fig. 1.
Seven (7) sectors rose, led by Automotive Electronics at 76.79%, from US$ 4.87 million to US$ 4.55 million. It was followed by Semiconductor Components/Devices (18.21%), Communication/Radar (16.95%), Medical/Industrial Instrumentation (10.85%), Control and Instrumentation (9.48%), Electronic Data Processing (8.98%), and Consumer Electronics (7.92%).
Two (2) electronics contracted, led by Office Equipment (17.53%), from US$ 20.02 million to US$ 15.35 million. This was followed by Telecommunication (12.49%).
The electronics imports increased by 11.84%, from US$ 2.27 billion in July 2023 to US$ 2.53 billion in July 2024, as shown in Fig. 2.
Imports for six (6) sectors climbed, led by Consumer Electronics at 54.37%, from US$ 88.43 million to US$ 136.51 million, as shown in Table 2. It was followed by Communication/Radar (26.06%), Electronic Data Processing (25.43%), Control and Instrumentation (9.43%), Semiconductor Components/Devices (8.31%), and Telecommunication (2.66%).
Meanwhile, three (3) sectors declined, namely Office Equipment (23.32%), and Medical/Industrial Instrumentation (9.39%).
Fig. 2: PH Electronics Imports (July 2023 vs July 2024)
Fig. 3: PH Electronics Exports (January – July 2023 vs. January – July 2024)
Cumulative electronics imports contracted by 2.68%, from US$ 15.66 billion in 2023 to US$ 15.24 billion in 2024. These comprised 21.00% of the total Philippine commodity imports YTD (See Fig. 3).
Three (3) electronics sectors shrunk, led by Office Equipment (12.52%) from US$ 141.71 billion to US$ 123.97 billion. It was followed by Semiconductor Components/Devices (8.77%), and Medical/Industrial Instrumentation (1.09%).
Meanwhile, Consumer Electronics increased by 43.04%, from US$ 563.28 million to US$ 805.73 million. This was followed by Electronic Data Processing (16.40%), Automotive Electronics (13.12%), Telecommunication (7.57%), Control and Instrumentation (5.27%), and Communication/Radar (3.71%). Kindly refer to Table 3.
COUNTRIES OF DESTINATION (JULY 2024)
Table 1 shows that the top five (5) countries of origin of electronics imports in July 2024 were China (28.33%), Japan (12.52%), South Korea (12.06%), Taiwan (8.82%), and the USA (8.02%). These were likewise the countries of destination in the same order in June 2024.
Table 1: Top 5 Countries of Origin for Electronics Imports (June 2024 vs July 2024)
The rest of the top ten countries of origin were Singapore (8.00%), Hong Kong (5.76%), Malaysia (4.09%), Vietnam (2.59%), and Thailand (2.07%).
Fig. 4: Top Imported Products (July 2024)
Fig. 4 shows the top imported electronics products in July 2024. Materials and accessories for the manufacture of semiconductor devices imported from Japan increased by 65.10%. Meanwhile, multi-component Integrated Circuits (MCO) imported from South Korea decreased by 55.02%. 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
