Electronic products were the top imports of the country in November last year, taking up 35 percent share of the total $6.095 billion worth of Philippine imports for the month.
In a statement, the Semiconductor and Electronics Industries in the Philippines Foundation Inc. (Seipi) said electronics imports last November surged by 68.8 percent to $2.131 billion from $1.26 billion a year earlier.
This was due to the robust growth in eight out of nine product sectors in the electronics segment – only automotive electronics imports recorded a drop of 9.2 percent.
The eight other electronics segments – control and instrumentation, medical and industrial instrumentation, communication or radar, semiconductors, consumer electronics, telecommunications, electronic data processing, and office equipment –grew by 21.7 percent.
Month-on-month, the imports in November were up 1.19 percent from $2.106 billion in October 2015.
This was due to a 9.02-percent to 38.38-percent growth observed in three segments: telecommunications, medical and industrial instrumentation, and control instrumentation. The other six of the nine sectors, on the other hand, registered declines ranging from 0.20 percent to 30.57 percent.
In January to November 2015, imports increased by 40.5 percent to $18.9 billion from $13.5 billion a year earlier.
Only automotive electronics decreased by 1.8 percent while the other eight segments grew by 16.5 percent to 52.5 percent.
Taiwan is the primary source of the country’s imports, with a 15.8-percent share. The United States followed at 14.9 percent, the China at 13.6 percent, Japan at 11.5 percent, and Singapore at 10.2 percent.
Among the top ten markets were Korea (7.8 percent), Thailand (5.3 percent), Hong Kong (5.3 percent), Malaysia (4.9 percent) and Germany (2.8 percent).