PHILIPPINE ELECTRONICS EXPORT PERFORMANCE DECEMBER 2023
Electronics exports declined by 4.87% in December 2023 to US$ 3.64 billion, which is 63.04% of the US$ 5.78 billion in total Philippine exports.
Fig. 1: PH Electronics Exports (November 2023 vs December 2023)
Electronics exports decreased from US$ 3.83 billion in November 2023 to US$ 3.64 billion in December 2023, as shown in Fig. 1.
Exports in five (5) sectors contracted as shown in Table 2. This was led by Telecommunication at 23.98%, from US$ 62.24 million to US$ 47.32 million, followed by Office Equipment (18.44%), Communication/Radar (7.68%), Electronic Data Processing (6.26%), and Semiconductor Components/Devices (3.72%). Please see Table 2.
Meanwhile, Medical/Industrial Instrumentation increased the most by 33.79%, from US$ 23.58 million to US$ 31.54 million. This was followed by Control and Instrumentation (6.45%), Automotive Electronics (6.24%), and Consumer Electronics (0.92%).
The Philippine Electronics exports went up by 1.83%, from US$ 3.57 billion in December 2022 to US$ 3.64 billion in December 2023, as shown in Fig. 2.
Exports in four (4) sectors improved, led by Automotive Electronics at 677.82%, from US$ 0.55 million to US$ 4.26 million. It was followed by Medical/Industrial Instrumentation (74.76%), Semiconductor Components/Devices (8.85%), and Communication/Radar (0.91%).
Office Equipment declined the most at 52.81%, from US$ 34.70 million to US$ 16.38 million. This was followed by Telecommunication (42.29%), Electronic Data Processing (21.09%), Consumer Electronics (4.20%), and Control and Instrumentation (3.31%). Kindly refer to Table 2.
Fig. 2: PH Electronics Exports (December 2022 vs December 2023)
C. PH Electronics Exports (Year-to-Date)
Fig. 3: PH Electronics Exports (January – December 2022 vs January – December 2023)
Year-to-date electronics exports shrunk by 8.08%, from US$ 49.66 billion in 2022 to US$ 45.64 billion in 2023, equivalent to 62.08% of the total Philippine exports. Please see Fig. 3.
Exports from six (6) sectors went down from last year’s YTD figures, led by Automotive Electronics at 53.99%, from US$ 90.33 million to US$ 41.56 million. This was followed by Office Equipment (36.50%), Electronic Data Processing (29.40%), Telecommunication (13.91%), Semiconductor Components/Devices (3.73%), and Control and Instrumentation (3.76%). Please see Table 3.
Meanwhile, Medical Industrial Instrumentation exports improved by 49.25%, from US$ 212.65 million to US$ 317.39 million. This was followed by Communication Radar (20.77%), and Consumer Electronics (2.44%).
COUNTRIES OF DESTINATION DECEMBER 2023
Table 1: Top 5 Countries of Origin for Electronics Exports (November 2023 vs December 2023)
The other destinations in the top ten were Singapore (5.20%), Taiwan (4.87%), Germany (3.88%), Vietnam (3.67%), and Thailand (3.52%).
Fig. 4: Top Exported Products, December 2023
The top exported electronics products in December 2023 are in Fig. 4. Integrated Circuits bound for Hong Kong increased by 216.83%. Meanwhile, Integrated Circuits bound for the USA decreased by 42.60%. 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
