Electronics exports contracted by 7.78% in October 2024 to US$ 3.23 billion, which is 52.39% of the US$ 6.16 billion total Philippine exports.
A. PH Electronics Exports: (Month-on-Month)
Fig. 1: PH Electronics Exports (September 2024 vs October 2024)
Electronics exports declined from US$ 3.50 billion in September 2024 to US$ 3.23 billion in October 2024, as shown in Fig. 1.
Exports in three (3) sectors shrunk as shown in Table 2. It was led by Consumer Electronics at 30.37%, from US$ 143.04 million to US$ 99.59 million. This was followed by Semiconductor Components/Devices (15.51%), and Office Equipment (1.89%).
Medical/Industrial Instrumentation increased by 61.44%, from US$ 22.08 million to US$ 35.64 million. It was followed by Telecommunication (57.52%), Control and Instrumentation (24.36%), Automotive Electronics (23.35%), Electronic Data Processing (10.85%), and Communication/Radar (8.51%).
The Philippine Electronics exports decreased by 20.52%, from US$ 4.06 billion in October 2023 to US$ 3.23 billion in October 2024, as shown in Fig. 2.
Exports in three (3) sectors went down, led by Semiconductor Components/Devices at 33.80%, from US$ 2.95 billion to US$ 1.95 billion. It was followed by Medical/Industrial Instrumentation (28.60%), and Communication/Radar (12.96%).
Automotive Electronics rose by 115.95%, from US$ 4.53 million to US$ 9.79 million. This was followed by Office Equipment (29.98%), Electronic Data Processing (24.59%), Telecommunication (21.73%), Consumer Electronics (18.90%), and Control and Instrumentation (8.05%). Kindly refer to Table 2.
Fig. 2: PH Electronics Exports (October 2023 vs October 2024)
Fig. 3: PH Electronics Exports (January – October 2023 vs. January – October 2024)
Year-to-date electronics exports contracted by 4.35%, from US$ 38.18 billion in 2023 to US$ 36.52 billion in 2024, which is equivalent to 59.06% 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 9.95%, from US$ 28.10 billion to US$ 25.31 billion. This was followed by Communication/Radar (9.01%), and Office Equipment (7.48%). Please see Table 3.
Meanwhile, Automotive Electronics improved by 84.07%, from US$ 33.23 million to US$ 61.17 million. It was followed by Consumer Electronics (26.44%), Electronic Data Processing (24.36%), Medical Industrial Instrumentation (19.04%), Telecommunication (14.82%), and Control and Instrumentation (5.47%).
COUNTRIES OF DESTINATION (OCTOBER 2024)
Table 1 shows the top five (5) export destinations in October 2024, namely, the USA (15.67%), Hong Kong (13.84%), China (9.77%), Japan (7.69%), and Singapore (7.47%).
Table 1: Top 5 Destination Countries for Electronics (September 2024 vs October 2024)
The other destinations in the top ten were Thailand (5.20%), Germany (4.56%), Taiwan (4.16%), South Korea (3.54%), and the Netherlands (3.16%).
Fig. 4: Top Exported Products, October 2024
The top exported electronics products in October 2024 are in Fig. 4. Integrated Circuits bound for the USA rose by 83.16%. Meanwhile Integrated Circuits bound for Hong Kong decreased by 74.92%. 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
