Electronics imports in October 2024 increased by 10.88% to US$ 2.67 billion, which is 22.34% of the country’s US$ 11.96 billion total commodity imports.
Fig. 1: PH Electronics Imports (September 2024vs October 2024)
The country’s electronics imports climbed from US$ 2.41 billion in September 2024 to US$ 2.67 billion in October 2024. See Fig. 1.
Eight (8) sectors went up, led by Communication/Radar at 63.07%, from US$ 107.35 million to US$ 175.06 million. This was followed by Telecommunication (12.01%), Semiconductor Components/Devices (9.61%), Control and Instrumentation (8.77%), Consumer Electronics (8.44%), Medical/Industrial Instrumentation (8.19%), Automotive Electronics (6.70%), and Electronic Data Processing (1.13%).
Office Equipment contracted by 13.70%, from US$ 15.96 million to US$ 13.78 million.
The electronics imports increased by 21.04%, from US$ 2.21 billion in October 2023 to US$ 2.67 billion in October 2024, as shown in Fig. 2.
Imports for seven (7) sectors grew, led by Consumer Electronics at 48.59%, from US$ 101.26 million to US$ 150.46 million, as shown in Table 2. It was followed by Electronic Data Processing (40.64%), Telecommunication (32.60%), Communication/Radar (20.30%), Semiconductor Components/Devices (18.13%), Medical/Industrial Instrumentation (6.89%), and Control and Instrumentation (4.00%).
Meanwhile, two (2) sectors declined, namely Office Equipment (41.53%), and Automotive Electronics (2.79%).
Fig. 2: PH Electronics Imports (October 2023 vs October 2024)
Fig. 3: PH Electronics Exports (January – October 2023 vs. January – October 2024)
Cumulative electronics imports rose by 2.09%, from US$ 22.32 billion in 2023 to US$ 22.79 billion in 2024. These comprised 21.28% of the total Philippine commodity imports YTD (See Fig. 3).
Seven (7) electronics sectors went up, led by Consumer Electronics at 42.80%, from US$ 856.46 million to US$ 1.22 billion. This was followed by Electronic Data Processing (21.24%), Telecommunication (8.21%), Communication/Radar (5.89%), Automotive Electronics (5.82%), Control and Instrumentation (1.91%), and Medical/Industrial Instrumentation (1.23%). Kindly refer to Table 3.
Meanwhile, two (2) electronics sectors shrunk, led by Office Equipment at 11.63%, from US$ 193.98 million to US$ 171.43 million. It was followed by Semiconductor Components/Devices (3.02%).
COUNTRIES OF ORIGIN (OCTOBER 2024)
Table 1 shows that the top five (5) countries of origin of electronics imports in October 2024 were China (27.54%), Japan (12.39%), South Korea (12.10%), Singapore (9.46%), and Taiwan (9.00%).
Table 1: Top 5 Countries of Origin for Electronics Imports (September 2024 vs October 2024)
The rest of the top ten countries of origin were the USA (8.50%), Hong Kong (4.70%), Malaysia (4.59%), Thailand (2.26%), and Vietnam (2.10%).
Fig. 4: Top Imported Products (October 2024)
Fig. 4 shows the top imported electronics products in September 2024. Multi-component Integrated Circuits (MCO) imported from Taiwan grew by 45.79%. Meanwhile, Materials and accessories for the manufacture of semiconductor devices imported from South Korea declined by 54.79%. 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
