Philippines Electronics Exports Increase by 5% in FY23

The Philippines Electronics Market is continuously shining. According to the Philippines import export data reports, the Electronics sector contributed around 60% of the total Philippines exports.

In the financial year 2022, Philippines electronics exports were around 47 billion dollars. The Philippines electronics industry is growing at the rate of 9% every year. These include Electronic ICs, Electric capacitors, semiconductor devices, printed circuits, Television, wires and cables. Our Philippines export data of electronics suggests that the major gainers were Telecommunications, automotive electronics, office equipment, instruments, components and semiconductors.

As per the Philippines customs data, Toshiba Information Equipment (Philippines), Inc. was the top electronics goods exporter from the Philippines with over 2 billion dollars exports during the financial year 2022.

Microchip Technology, Philippines Advanced Processing Tech Inc, PLDT, Aboitiz Equity Ventures, Ayala, San Miguel and Acbel Polytech Philippines were the top Philippines export companies during the fiscal year 2022.

The major markets for Philippines electronics exports were Hong Kong, United States, China, Japan and Singapore. Other emerging markets for Philippines electronics exports were Germany, Taiwan, Thailand, South Korea and the Netherlands. Experts predict around 5% increase in electronics exports of the Philippines.

While, the Philippines import data reports indicate that electronics imports by the Philippines were around 24 billion dollars. China, South Korea, Japan and Taiwan are the major markets that exported a significant amount of electronics goods to the Philippines in FY22.

As per the Philippines trade data reports, Philippines total imports were estimated around 112 billion dollars while the exports were worth 76 billion dollars in FY22. The most traded goods from the Philippines were mineral fuels, cereals, electronic products, pharmaceuticals, chemicals and iron steel. For the financial year 2022, China, Korea, Japan, United States and Singapore were the important trading partners of the Philippines.

For the financial year 2022, Philippines agri imports and exports were 48 billion and 24 billion dollars respectively. In terms of Agricultural products exports, Philippines top exports were Edible fruits, Animal/Vegetable fats oils, food preparations, and marine products. The top agri products exporters to the Philippines were Netherlands, Spain and Italy. On the other hand, the top agriproducts imported by the Philippines were Cereals, Animal/Vegetable wastes, Edible Meat, and Food Preparations. Philippines agri imports were mostly from Vietnam, Indonesia and Malaysia.

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