Electronics imports in June 2024 rose by 3.50% to US$ 2.23 billion, which is 22.58% of the country’s US$ 9.87 billion total commodity imports.
Fig.1: PH Electronics Imports (May 2024 vs June 2024)
The country’s electronics imports increased by 3.50% from US$ 2.15 billion in May 2024 to US$ 2.23 billion in June 2024. See Fig. 1.
Six (6) sectors went up, led by Communication/Radar at 45.26%, from US$ 88.13 million to US$ 128.02 million. It was followed by Telecommunication (21.98%), Medical/Industrial Instrumentation (21.41%), Control and Instrumentation (17.21%), Electronic Data Processing (13.02%), and Consumer Electronics (5.90%).
Three electronics contracted, led by Automotive Electronics (41.42%), from US$ 4.41 million to US$ 2.58 million. This was followed by Semiconductor Components/Devices (2.57%), and Office Equipment (1.79%).
The electronics imports grew by 5.32%, from US$ 2.12 billion in June 2023 to US$ 2.23 billion in June 2024, as shown in Fig. 2.
Imports for five (5) sectors climbed, led by Consumer Electronics at 56.03%, from US$ 80.47 million to US$ 125.56 million, as shown in Table 2. It was followed by Communication/Radar (34.34%), Telecommunication (31.95%), Electronic Data Processing (21.59%), and Control and Instrumentation 8.84%).
Meanwhile, four (4) sectors shrunk, namely Automotive Electronics (17.43%), Medical/Industrial Instrumentation (17.23%), Office Equipment (7.68%), and Semiconductor Components/Devices (2.78%).
Fig. 2: PH Electronics Imports (June 2023 vs June 2024)
Fig. 3: PH Electronics Exports (January – June 2023 vs. January – June 2024)
Cumulative electronics imports decreased by 5.23%, from US$ 13.40 billion in 2023 to US$ 12.70 billion in 2024. These comprised 20.68% of the total Philippine commodity imports YTD (See Fig. 3).
Three (3) electronics sectors declined, led by Office Equipment (11.79%) from US$ 121.69 billion to US$ 107.35 billion. It was followed by Semiconductor Components/Devices (11.67%), and Communication/Radar (0.27%).
Meanwhile, Consumer Electronics increased by 40.71%, from US$ 474.85 million to US$ 668.17 million. This was followed by Automotive Electronics (16.98%), Electronic Data Processing (14.82%), Telecommunication (8.43%), Control and Instrumentation (4.45%), and Medical/Industrial Instrumentation (0.44%). Kindly refer to Table 3.
COUNTRIES OF ORIGIN (JUNE 2024)
Table 1 shows that the top five (5) countries of origin of electronics imports in June 2024 were China (27.47%), Japan (11.93%), South Korea (10.76%), Taiwan (9.21%), and the USA (8.79%).
Table 1: Top 5 Countries of Origin for Electronics Imports (May 2024 vs June 2024)
The rest of the top ten countries of origin were Singapore (8.44%), Hong Kong (5.85%), Malaysia (4.25%), Vietnam (2.75%), and Thailand (2.40%).
Fig. 4: Top Imported Products (June 2024)
Fig. 4 shows the top imported electronics products in June 2024. Parts and accessories of data processing machines under electronic data processing imported from Hong Kong increased by 11.30%. Meanwhile, dice and wafers under semiconductor components/devices imported from South Korea decreased by 43.75%. 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
