Philippines: Electronic Chip Market 2024

Electronic Chip Market Size in the Philippines

The Philippine electronic chip market dropped notably to $X in 2023, which is down by X% against the previous year. Overall, consumption, however, posted a noticeable increase. As a result, consumption attained the peak level of $X. From 2015 to 2023, the growth of the market remained at a lower figure.

Electronic Chip Production in the Philippines

In value terms, electronic chip production shrank slightly to $X in 2023 estimated in export price. In general, production, however, posted resilient growth. The growth pace was the most rapid in 2014 with an increase of X%. Electronic chip production peaked at $X in 2020; however, from 2021 to 2023, production failed to regain momentum.

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Electronic Chip Exports

Exports from the Philippines

In 2023, approx. X units of electronic chips were exported from the Philippines; flattening at the previous year's figure. Overall, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, the exports hit record highs at X units in 2022, and then declined modestly in the following year.

In value terms, electronic chip exports contracted to $X in 2023. In general, exports, however, posted a resilient increase. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2022, and then declined in the following year.

Exports by Country

Hong Kong SAR (X units), Singapore (X units) and China (X units) were the main destinations of electronic chip exports from the Philippines, with a combined X% share of total exports. Taiwan (Chinese), Japan, the United States, Malaysia, Thailand and Germany lagged somewhat behind, together comprising a further X%.

From 2017 to 2023, the biggest increases were recorded for Japan (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), China ($X) and the United States ($X) constituted the largest markets for electronic chip exported from the Philippines worldwide, with a combined X% share of total exports. Singapore, Japan, Taiwan (Chinese), Germany, Malaysia and Thailand lagged somewhat behind, together accounting for a further X%.

Japan, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average electronic chip export price amounted to $X per unit, declining by X% against the previous year. Over the period under review, the export price showed a abrupt curtailment. The growth pace was the most rapid in 2022 an increase of X% against the previous year. The export price peaked at $X per unit in 2017; however, from 2018 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Singapore ($X per unit) was amongst the lowest.

From 2017 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (X%), while the prices for the other major destinations experienced a decline.

Electronic Chip Imports

Imports into the Philippines

In 2023, supplies from abroad of electronic chips decreased by X% to X units for the first time since 2018, thus ending a four-year rising trend. Over the period under review, imports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Imports peaked at X units in 2022, and then declined in the following year.

In value terms, electronic chip imports reduced sharply to $X in 2023. Overall, imports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2022, and then shrank markedly in the following year.

Imports by Country

In 2023, China (X units) constituted the largest electronic chip supplier to the Philippines, with a X% share of total imports. Moreover, electronic chip imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X units), fivefold. The third position in this ranking was held by Taiwan (Chinese) (X units), with an X% share.

From 2017 to 2023, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, Taiwan (Chinese) ($X), the United States ($X) and South Korea ($X) constituted the largest electronic chip suppliers to the Philippines, together comprising X% of total imports. China, Japan, Singapore, Malaysia and Thailand lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Malaysia, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average electronic chip import price stood at $X per unit in 2023, dropping by X% against the previous year. Over the period under review, the import price continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2019 to 2023, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2017 to 2023, the most notable rate of growth in terms of prices was attained by Japan (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform