Electronics exports declined by 9.78% in September 2024 to US$ 3.50 billion, which is 55.94% of the US$ 6.26 billion total Philippine exports.
A. PH Electronics Exports: (Month-on-Month)
Fig. 1: PH Electronics Exports (August 2024 vs September 2024)
Electronics exports went down from US$ 3.88 billion in August 2024 to US$ 3.50 billion in September 2024, as shown in Fig. 1.
Exports in five (5) sectors contracted as shown in Table 2. It was led by Medical/Industrial Instrumentation at 16.07%, from US$ 26.30 million to US$ 22.08 million. It was followed by Telecommunication (15.15%), Semiconductor Components/Devices (14.10%), Electronic Data Processing (11.18%), and Control and Instrumentation (3.54%).
Automotive Electronics rose by 39.89%, from US$ 5.67 million to US$ 7.94 million. This was followed by Office Equipment (32.67%), Consumer Electronics (15.74%), and Communication/Radar (1.86%).
The Philippine Electronics exports shrunk by 20.55%, from US$ 4.41 billion in September 2023 to US$ 3.50 billion in September 2024, as shown in Fig. 2.
Exports in five (5) sectors declined, led by Medical/Industrial Instrumentation at 37.11%, from US$ 35.10 million to US$ 22.08 million. This was followed by Semiconductor Components/Devices (30.56%), Communication/Radar (10.60%), Control and Instrumentation (4.91%), and Telecommunication (0.68%).
Meanwhile, Automotive Electronics increased by 115.34%, from US$ 3.68 million to US$ 7.94 million. It was followed by Consumer Electronics (64.80%), Office Equipment (19.60%), and Electronic Data Processing (6.73%). Kindly refer to Table 2.
Fig. 2: PH Electronics Exports (September 2023 vs September 2024)
Fig. 3: PH Electronics Exports (January – September 2023 vs. January – September 2024)
Year-to-date electronics exports decreased by 2.42%, from US$ 34.11 billion in 2023 to US$ 33.29 billion in 2024, which is equivalent to 59.79% of the total Philippine exports. Please see Fig. 3.
Exports from three (3) sectors went down from last year’s YTD figures, led by Office Equipment at 10.95%, from US$ 259.77 million to US$ 231.32 million. It was followed by Communication/Radar (8.52%), and Semiconductor Components/Devices (7.15%). Please see Table 3.
Automotive Electronics went up by 79.03%, from US$ 28.70 million to US$ 51.38 million. This was followed by Medical Industrial Instrumentation (30.23%), Consumer Electronics (27.83%), Electronic Data Processing (24.21%), Telecommunication (13.84%), and Control and Instrumentation (5.13%).
COUNTRIES OF DESTINATION (SEPTEMBER 2024)
Table 1 shows the top five (5) export destinations in September 2024, namely, Hong Kong (20.66%), the USA (16.47%), China (9.46%), Japan (6.43%), and Germany (4.86%).
Table 1: Top 5 Destination Countries for Electronics Exports (August 2024 vs September 2024)
The other destinations in the top ten were Singapore (4.56%), Taiwan (4.55%), South Korea (3.54%), Thailand (3.36%), and the Netherlands (3.30%).
Fig. 4: Top Exported Products, September 2024
The top exported electronics products in September 2024 are in Fig. 4. Integrated Circuits bound for Singapore increased by 134.61%. Meanwhile Multi component Integrated Circuits bound for Hong Kong declined by 70.54%. 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
