Electronics imports in August 2024 contracted by 3.85% to US$ 2.44 billion, which is 21.98% of the country’s US$ 11.12 billion total commodity imports.
Fig. 1: PH Electronics Imports (July 2024 vs August 2024)
The country’s electronics imports went down from US$ 2.54 billion in July 2024 to US$ 2.44 billion in August 2024. See Fig. 1.
Seven (7) sectors shrunk, led by Communication/Radar at 23.49%, from US$ 149.91 million to US$ 114.70 million. It was followed by Automotive Electronics (17.14%), Consumer Electronics (10.85%), Control and Instrumentation (9.37%), Office Equipment (7.18%), Semiconductor Components/Devices (2.33%), and Electronic Data Processing (0.82%).
Two (2) electronics climbed, led by Medical/Industrial Instrumentation at 15.57%, from US$ 21.72 million to US$ 25.10 million. This was followed byTelecommunication (2.67%).
The electronics imports grew by 8.98%, from US$ 2.24 billion in August 2023 to US$ 2.44 billion in August 2024, as shown in Fig. 2.
Imports for six (6) sectors increased, led by Consumer Electronics at 29.98%, from US$ 95.93 million to US$ 124.69 million, as shown in Table 2. This was followed by Electronic Data Processing (29.46%), Semiconductor Components/Devices (6.96%), Telecommunication (4.08%), Control and Instrumentation (2.94%), and Medical/Industrial Instrumentation (0.27%).
Meanwhile, three (3) sectors declined, namely Automotive Electronics (17.10%), Office Equipment (2.79%), and Communication/Radar (1.60%).
Fig. 2: PH Electronics Imports (August 2023 vs August 2024)
Fig. 3: PH Electronics Exports (January – August 2023 vs. January – August 2024)
Cumulative electronics imports declined by 1.17%, from US$ 17.91 billion in 2023 to US$ 17.70 billion in 2024. These comprised 21.14% of the total Philippine commodity imports YTD (See Fig. 3).
Three (3) electronics sectors contracted, led by Office Equipment at 11.27%, from US$ 156.82 million to US$ 139.14 million. It was followed by Semiconductor Components/Devices (6.82%), and Medical/Industrial Instrumentation (0.94%).
Meanwhile, Consumer Electronics increased by 41.65%, from US$ 659.21 million to US$ 933.77 million. This was followed by Electronic Data Processing (18.10%), Automotive Electronics (9.11%), Telecommunication (7.10%), Control and Instrumentation (4.94%), and Communication/Radar (3.05%). Kindly refer to Table 3.
COUNTRIES OF DESTINATION (AUGUST 2024)
Table 1 shows that the top five (5) countries of origin of electronics imports in August 2024 were China (25.31%), South Korea (14.77%), Japan (13.18%), the USA (9.18%), and Taiwan (8.32%).
Table 1: Top 5 Countries of Origin for Electronics Imports (July 2024 vs August 2024)
The rest of the top ten countries of origin were Singapore (7.36%), Hong Kong (5.03%), Malaysia (4.07%), Vietnam (2.48%), and Germany (2.37%).
Fig. 4: Top Imported Products (August 2024)
Fig. 4 shows the top imported electronics products in August 2024. Dice and wafers under semiconductor components/devices imported from South Korea grew by 101.78%. Meanwhile, Laptops including notebooks and subnotebooks under electronic data processing imported from China declined by 30.78%. See Table 3.
Table 2: PH Electronics Imports Product by Sector (Month-on-Month and Year-on-Year)
Table 3: PH Electronics Imports Product by Sector (Year-to-date)
Table 4: PH Top Electronics Import Products and Countries of Destination
