Electronics exports declined by 0.86% in April 2024 to US$ 3.84 billion, which is 61.74% of the US$ 6.22 billion total Philippine exports.
Fig.1: PH Electronics Exports (March 2023 vs March 2024)
Electronics exports dropped slightly from US$ 3.87 billion in March 2024 to US$ 3.84 billion in April 2024, as shown in Fig. 1.
Exports in five (5) sectors went down as shown in Table 2. This was led by Consumer Electronics at 15.31%, from US$ 108.87 million to US$ 92.21 million. This was followed by Communication/Radar (14.86%), Medical/Industrial Instrumentation (13.11%), Automotive Electronics (8.57%), and Semiconductor Components/Devices (1.48%).
Telecommunication rose by 55.57%, from US$ 64.18 million to US$ 99.84 million. It was followed by Office Equipment (18.71%), Electronic Data Processing (1.02%), and Control and Instrumentation (0.85%).
The Philippine Electronics exports increased by 30.30%, from US$ 2.95 billion in March 2024 to US$ 3.84 billion in April 2024, as shown in Fig. 2.
Exports in seven (7) sectors went up, led by Telecommunication at 99.77%, from US$ 49.98 million to US$ 99.84 million, followed by Automotive Electronics (57.92%), Electronic Data Processing (51.30%), Medical/Industrial Instrumentation (42.31%), Control and Instrumentation (36.30%), Consumer Electronics (35.50%), and Semiconductor Components/Devices (30.65%).
Meanwhile, Office Equipment decreased the most by 17.03%, from US$ 32.03 million to US$ 26.58 million. This was followed by Communication/Radar (7.02%). Kindly refer to Table 2.
Fig. 2: PH Electronics Exports (April 2023 vs April 2024)
COUNTRIES OF ORIGIN (APRIL 2024)
Table 1 shows the top five (5) export destinations in April 2024, namely, Hong Kong (23.72%), the USA (13.42%), China (8.60%), Japan (6.37%), and Taiwan (5.78%).
Table 1: Top 5 Countries of Origin for Electronics Exports (March 2024 vs April 2024)
The other destinations in the top ten were Singapore (5.24%), Germany (5.03%), South Korea (3.96%), the Netherlands (3.95%), and Thailand (3.68%).
Fig. 4: Top Exported Products, April 2024
The top exported electronics products in April 2024 are in Fig. 4. Parts and accessories of data processing machines under electronic data processing bound for Thailand increased by 69.17%. Meanwhile, Electronic Integrated Circuits – processors and controllers bound for the Netherlands contracted by 29.48%. 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
