Philippines: Semiconductor Device Market 2024

Semiconductor Device Market Size in the Philippines

The Philippine semiconductor device market shrank sharply to $X in 2023, reducing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2023, the growth of the market remained at a somewhat lower figure.

Semiconductor Device Exports

Exports from the Philippines

For the sixth year in a row, the Philippines recorded decline in overseas shipments of semiconductor devices, which decreased by X% to X units in 2023. Overall, exports showed a deep downturn. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, semiconductor device exports dropped modestly to $X in 2023. Over the period under review, exports recorded a abrupt decrease. The pace of growth was the most pronounced in 2017 with an increase of X%. The exports peaked at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

Japan (X units) was the main destination for semiconductor device exports from the Philippines, accounting for a X% share of total exports. Moreover, semiconductor device exports to Japan exceeded the volume sent to the second major destination, Hong Kong SAR (X units), twofold. Singapore (X units) ranked third in terms of total exports with an X% share.

From 2012 to 2023, the average annual growth rate of volume to Japan amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (X% per year) and Singapore (X% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for semiconductor devices exports from the Philippines, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with a X% share of total exports. It was followed by Singapore, with a X% share.

From 2012 to 2023, the average annual growth rate of value to Hong Kong SAR amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and Singapore (X% per year).

Export Prices by Country

In 2023, the average semiconductor device export price amounted to $X per unit, declining by X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average export price increased by X%. The export price peaked at $X per unit in 2018; however, from 2019 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 Taiwan (Chinese) ($X per unit), while the average price for exports to Japan ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (X%), while the prices for the other major destinations experienced more modest paces of growth.

Semiconductor Device Imports

Imports into the Philippines

Semiconductor device imports into the Philippines fell notably to X units in 2023, which is down by X% against 2022 figures. In general, imports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2023, imports failed to regain momentum.

In value terms, semiconductor device imports fell markedly to $X in 2023. Overall, imports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2023, imports remained at a lower figure.

Imports by Country

Taiwan (Chinese) (X units), China (X units) and Ireland (X units) were the main suppliers of semiconductor device imports to the Philippines, together accounting for X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ireland (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of semiconductor devices to the Philippines, comprising X% of total imports. The second position in the ranking was held by Ireland ($X), with a X% share of total imports. It was followed by China, with an X% share.

From 2012 to 2023, the average annual growth rate of value from Taiwan (Chinese) amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (X% per year) and China (X% per year).

Import Prices by Country

In 2023, the average semiconductor device import price amounted to $X per unit, which is down by X% against the previous year. In general, the import price recorded a abrupt setback. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2013; however, from 2014 to 2023, import prices stood at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform