Electronics imports in November 2024 contracted by 8.31% to US$ 2.46 billion, which is 23.52% of the country’s US$ 10.46 billion total commodity imports.
Fig. 1: PH Electronics Imports (October 2024 vs November 2024)
The country’s electronics imports shrunk from US$ 2.68 billion in October 2024 to US$ 2.46 billion in November 2024. See Fig. 1.
Five (5) sectors went down, led by Semiconductor Components/Devices at 13.17%, from US$ 1.82 billion to US$ 1.58 billion. It was followed by Consumer Electronics (7.64%), Electronic Data Processing (6.08%), Control and Instrumentation (4.03%), and Medical/Industrial Instrumentation (1.88%).
Meanwhile, Communication/Radar rose by 19.43%, from US$ 175.05 million to US$ 209.06 million. This was followed by Automotive Electronics (19.25%), Office Equipment (13.14%), and Telecommunication (9.05%).
The electronics imports climbed by 10.46%, from US$ 2.23 billion in November 2023 to US$ 2.46 billion in November 2024, as shown in Fig. 2.
Imports for six (6) sectors grew, led by Communication/Radar at 23.93%, from US$ 168.69 million to US$ 209.06 million, as shown in Table 2. It was followed by Consumer Electronics (23.19%), Telecommunication (13.21%), Electronic Data Processing (10.89%), Semiconductor Components/Devices (10.13%), and Automotive Electronics (7.43%).
Meanwhile, three (3) sectors went down, namely Office Equipment (32.94%), Control and Instrumentation (14.29%), and Medical/Industrial Instrumentation (5.25%).
Fig. 2: PH Electronics Imports (November 2023 vs November 2024)
Fig. 3: PH Electronics Exports (January – November 2023 vs. January – November 2024)
Cumulative electronics imports increased by 2.89%, from US$ 24.55 billion in 2023 to US$ 25.55 billion in 2024. These comprised 21.49% of the total Philippine commodity imports YTD (See Fig. 3).
Seven (7) electronics sectors declined, led by Consumer Electronics at 40.55%, from US$ 969.48 million to US$ 1.36 billion. This was followed by Electronic Data Processing (20.14%), Telecommunication (8.82%), Communication/Radar (8.20%), Automotive Electronics (6.01%), Medical/Industrial Instrumentation (0.69%), and Control and Instrumentation (0.38%). Kindly refer to Table 3.
Two (2) electronics sectors contracted, led by Office Equipment at 13.89%, from US$ 217.29 million to US$ 187.10 million. It was followed by Semiconductor Components/Devices (1.89%).
COUNTRIES OF DESTINATION (NOVEMBER 2024)
Table 1 shows that the top five (5) countries of origin of electronics imports in November 2024 were China (32.02%), Japan (11.69%), South Korea (10.80%), Taiwan (9.32%), and the USA (8.37%).
Table 1: Top 5 Countries of Origin for Electronics Imports (October 2024 vs November 2024)
The rest of the top ten countries of origin were Singapore (7.31%), Hong Kong (4.68%), Malaysia (4.38%), Vietnam (2.36%), and Thailand (2.06%).
Fig. 4: Top Imported Products (November 2024)
Fig. 4 shows the top imported electronics products in November 2024. Parts and accessories of data processing machines under electronic data processing imported from Hong Kong improved by 33.29%. Meanwhile, Multi-component Integrated Circuits (MCO) from Taiwan decreased by 41.79%. 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
