-
The Philippines’ electronics goods exports jumped 12.9% in 2021 from 2020
-
From US$40.67 billion in 2020, exports reached all-time high of $45.92 billion in 2021
-
The 2021 total accounted for 61.52% of the country’s total commodity exports for that year
-
Exports are forecast to grow 10% in 2022 on the back of continued strong demand worldwide
The Philippines’ total electronics exports has exceeded pre-pandemic levels, climbing 12.9% to reach an all-time high of $45.92 billion in 2021 from US$40.67 billion in 2020, according to a Feb 2 article on the website of the Semiconductor & Electronics Industries in the Philippines, Foundation Inc (SEIPI).
The latest figure accounted for 61.52% of the country’s total commodity exports for 2021.
At the group’s general membership meeting on January 27, SEIPI chairman said semiconductor and electronics exports are forecast to grow by 10% this year on the back of continued strong demand worldwide.
“The board of trustees are generally optimistic about our growth in 2022 but they note it depends very much upon the improvements to inbound and outbound logistics flows, to the health of the supply chain, health of the population and to the continuing opening of the country,” he said.
Leading exports from seven electronics sectors is Telecommunication, which grew 138.04% from $304.65 million in 2020 to $725.19 million in 2021. Medical/Industrial Instrumentation followed (37.49%), then Electronic Data Processing (29.51%), Consumer Electronics (19.45%), Office Equipment (19.32%), Control and Instrumentation (12.92%), and Components/Devices (Semiconductors) (7.37%).
Exports in Automotive Electronics dropped by 42.95%, from $167.91 million to $95.80 million, followed by Communication/Radar (7.67%).
Compared to November 2021, electronics exports in December 2021 slipped by 1.66% to $3.92 billion from $3.99 billion.
SEIPI said month-on-month exports in six sectors declined in December 2021, with Telecommunication leading the pack with a 33.45% drop from $134.65 million to $89.60 million, followed by Control and Instrumentation (32.48%), Office Equipment (14.89%), Electronic Data Processing (14.84%), Medical/Industrial Instrumentation (10.70%), Consumer Electronics (4.24%), and Communication/Radar (1.51%).
Automotive Electronics jumped by 56.10%, from $7.11 million to $11.10 million, followed by Components/Devices (Semiconductors) (5.01%).
The top five export destinations for electronics goods in December 2021 were Hong Kong (20.08%), United States (13.82%), China (12.45%), Singapore (7.23%), and Japan (7.23%).
Meanwhile, from $3.9 billion in December 2020, electronics exports grew by 0.71% to $3.92 billion in December 2021, SEIPI said.
Exports in four sectors rose, led by Telecommunication surging at 183.97% from $31.55 million in December 2020 to $89.60 million in December 2021. This was followed by Automotive Electronics (39.01%), Office Equipment (29.70%), Components/Devices (Semiconductors) (1.61%).
Control and Instrumentation dropped the most by 30.45%, from $65.06 million to $45.25 million. This was followed by Medical/Industrial Instrumentation (19.75%), Consumer Electronics (17.46%), Communication/Radar (5.83%) and Electronic Data Processing (1.30%).
