Electronics exports declined by 4.84% in November 2024 to US$ 3.10 billion, which is 54.46% of the US$ 5.69 billion total Philippine exports.
A. PH Electronics Exports: (Month-on-Month)
Fig. 1: PH Electronics Exports (October 2024 vs November 2024)
Electronics exports decreased from US$ 3.26 billion in October 2024 to US$ 3.10 billion in November 2024, as shown in Fig. 1.
Exports in seven (7) sectors went down as shown in Table 2. It was led by Telecommunication at 36.41%, from US$ 104.08 million to US$ 66.19 million. It was followed by Control and Instrumentation (13.78%), Office Equipment (8.22%), Automotive Electronics (7.96%), Electronic Data Processing (5.12%), Communication/Radar (4.28%), and Semiconductor Components/Devices (3.82%).
Consumer Electronics improved by 43.93%, from US$ 99.61 million to US$ 143.36 million. This was followed by Medical/Industrial Instrumentation (10.54%).
The Philippine Electronics exports shrunk by 19.10%, from US$ 3.83 billion in November 2023 to US$ 3.10 billion in November 2024, as shown in Fig. 2.
Semiconductor Components/Devices contracted by 33.15%, from US$ 2.85 billion to US$ 1.91 billion.
Meanwhile, exports in eight (8) sectors went up, led by Automotive Electronics at 125.40%, from US$ 4.00 million to US$ 9.01 million. This was followed by Consumer Electronics (79.77%), Medical/Industrial Instrumentation (64.89%), Office Equipment (38.81%), Electronic Data Processing (29.63%), Control and Instrumentation (17.56%), Telecommunication (6.35%), and Communication/Radar (2.32%).
Fig. 2: PH Electronics Exports (November 2023 vs November 2024)
Fig. 3: PH Electronics Exports (January – November 2023 vs. January – November 2024)
Year-to-date electronics exports decreased by 5.63%, from US$ 42.01 billion in 2023 to US$ 39.64 billion in 2024, which is equivalent to 58.68% of the total Philippine exports. Please see Fig. 3.
Exports from three (3) sectors declined from last year’s YTD figures, led by Semiconductor Components/Devices at 12.00%, from US$ 30.95 billion to US$ 27.24 billion. It was followed by Communication/Radar (8.07%), and Office Equipment (4.66%). Please see Table 3.
Automotive Electronics increased by 88.51%, from US$ 37.23 million to US$ 70.18 million. This was followed by Consumer Electronics (31.18%), Electronic Data Processing (24.89%), Medical Industrial Instrumentation (22.86%), Telecommunication (14.10%), and Control and Instrumentation (6.49%).
COUNTRIES OF DESTINATION (NOVEMBER 2024)
Table 1 shows the top five (5) export destinations in November 2024, namely, the USA (16.96%), Hong Kong (14.80%), China (10.20%), Singapore (7.79%), and Japan (7.52%).
Table 1: Top 5 Destination Countries for Electronics Exports (October 2024 vs November 2024)
The other destinations in the top ten were Germany (4.64%), Thailand (4.62%), Taiwan (4.02%), South Korea (3.25%), and Malaysia (2.42%).
Fig. 4: Top Exported Products, November 2024
The top exported electronics products in November 2024 are in Fig. 4. Integrated Circuits bound for the Hong Kong increased by 50.79%. Meanwhile, Electronic Integrated Circuits – processors and controllers bound for Hong Kong declined by 14.94%. 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
