Electronics exports increased by 0.02% in May 2024 to US$ 3.85 billion, which is 60.91% of the US$ 6.33 billion total Philippine exports.
Fig. 1: PH Electronics Exports (April 2024 vs May 2024)
Electronics exports remained relatively flat from US$ 3.854 billion in April 2024 to US$ 3.855 billion in May 2024, as shown in Fig. 1.
Exports in four (4) sectors improved as shown in Table 2. This was led by Communication/Radar at 17.67%, from US$ 42.21 million to US$ 49.67 million. This was followed by Electronic Data Processing (3.21%), Automotive Electronics (2.01%), and Consumer Electronics (0.37%).
Five electronics sectors shrunk, led by Telecommunication at 25.39%, from US$ 99.89 million to US$ 74.53 million. It was followed by Control and Instrumentation (8.46%), Office Equipment (1.77%), Medical/Industrial Instrumentation (0.41%), and Semiconductor Components/Devices (0.36%).
The Philippine Electronics exports contracted by 5.50%, from US$ 4.08 billion in May 2024 to US$ 3.85 billion in May 2024, as shown in Fig. 2.
Exports in two (2) sectors declined, led by Communication/Radar at 17.28%, from US$ 60.04 million to US$ 49.67 million. It was followed by Semiconductor Components/Devices (13.30%). Kindly refer to Table 2.
Automotive Electronics rose by 114.25%, from US$ 2.29 million to US$ 4.90 million. This was followed by Electronic Data Processing (62.99%), Telecommunication (39.74%), Consumer Electronics (33.92%), Medical/Industrial Instrumentation (32.25%), Office Equipment (23.65%), and Control and Instrumentation (5.95%).
Fig. 2: PH Electronics Exports (May 2023 vs May 2024)
Fig. 3: PH Electronics Exports (January – May 2023 vs. January – May 2024)
Year-to-date electronics exports went up by 10.80%, from US$ 17.22 billion in 2023 to US$ 19.08 billion in 2024, which is equivalent to 61.87% of the total Philippine exports. Please see Fig. 3.
Exports from seven (7) sectors improved from last year’s YTD figures, led by Automotive Electronics at 84.56%, from US$ 14.43 million to US$ 26.63 million. This was followed by Medical Industrial Instrumentation (42.85%), Electronic Data Processing (29.00%), Telecommunication (17.67%), Control and Instrumentation (11.38%), Consumer Electronics (10.85%), and Semiconductor Components/Devices (10.67%). Please see Table 3.
Meanwhile, Office Equipment decreased the most by 14.41%, from US$ 145.20 million to US$ 124.27 million. It was followed by Communication/Radar (3.65%).
COUNTRIES OF DESTINATION (MAY 2024)
Table 1 shows the top five (5) export destinations in May 2024, namely, Hong Kong (20.81%), the USA (15.99%), China (9.14%), Japan (7.44%), and Taiwan (5.28%). These were likewise the countries of destination in the same order in April 2024
Table 1: Top 5 Destination Countries for Electronics Exports (April 2024 vs May 2024)
The other destinations in the top ten were Singapore (5.14%), Germany (4.56%), South Korea (4.09%), the Netherlands (4.07%), and Thailand (3.61%).
Fig. 4: Top Exported Products, May 2024
The top exported electronics products in May 2024 are in Fig. 4. Integrated Circuits bound for the USA rose by 55.47%. Meanwhile, Integrated Circuits bound for Hong Kong decreased by 44.11%. 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
