THIS WILL FUNDAMENTALLY CHANGE THE WAY YOU LOOK AT THE INTEGRATED CIRCUITS TRADE MARKET – PHILIPPINES TRADE DATA

 

GROWTH OF THE INTEGRATED CIRCUITS MARKET IN THE WORLD – OVERVIEW

Integrated circuits or components are a part of almost every electric machine and electronic gadget. These circuits make any machine or gadget work to its optimal level. The types of circuits that are covered under integrated circuits are monolithic integrated circuits, spare parts or components of electronic items, hybrid circuits, and micro assemblies.

Based on Global Trade Data and Import Export Data of various countries, it is proved that integrated circuits were the world’s most favorite traded product as its total trade accounted for almost USD 670 billion. With this, the contribution of integrated circuit trade in the year 2020 became 4% of total global trade. It is also known that from 2019 to 2020, the exports of these products grew by 9.75% (from USD 610 billion to USD 670 billion).

According to Global Trade, the top exporters of integrated circuits in the year 2020 were Chinese Taipei (USD 138.01 billion), followed by China (USD 120.02 billion), South Korea (USD 90 billion), Malaysia (USD 66 billion), and then Singapore (USD 63.2 billion). Based on the same lines, the major importers of integrated circuits in the year 2020 were Hong Kong (USD 161 billion), followed by China (USD 144 billion), Singapore (USD 51.55 billion), Chinese Taipei (USD 48.92 billion), and then South Korea (USD 39 billion).

GLOBAL TRADE OF INTEGRATED CIRCUITS – PAST YEARS’ TRENDS
YEAR	IMPORTS	EXPORTS
2017	USD 747,474 million	USD 621,640 million
2018	USD 862,090 million	USD 704,361 million
2019	USD 849,669 million	USD 702,041 million
2020	USD 938,370 million	USD 783,954 million
2021	USD 1,192,233 million	USD 1,008,652 million

 

 

RISING TRADE OF INTEGRATED CIRCUITS IN THE PHILIPPINES

The aim of the Philippines is to make itself one of the best alternatives and a key market player in the field of integrated circuit production and trading. The Philippines is working hard to attract big firms and companies that design and produce integrated circuits so that it becomes the biggest hub for providing IC services to the globe.

As per the Philippines Trade Data for the year 2020, the nation was among the top 10 exporters of integrated circuits with a contribution of 2.8% of total IC exports. The Philippines has already attracted many big companies and MNCs to itself who are the big players in the field of Integrated circuits business and accounting like Texas instruments, analog devices, ON Semiconductor, Maxim, and NXP.

Based on the Philippines Export data for the year 2020, the country exported integrated circuits worth USD 22.6 billion to the world which made it the 8^th biggest exporter of this product in 2020. Moreover, in this year only integrated circuits became the top trading item in the world. Based on the same Philippines Export Data of the year 2020, the biggest export partners of the Philippines were:

·        Hong Kong (USD 6.40 billion)

·        China (USD 4.32 billion)

·        Singapore (USD 4.02 billion)

·        Germany (USD 1.05 billion)

·        The United States (USD 1.03 billion)

Exports from the Philippines grew in the year 2020 due to the country’s good relations with China, Hong Kong, and Vietnam. These 3 nations imported integrated circuits from the Philippines in large quantities.

On the other hand, If we refer to the Philippines Import Data for the year 2020, we get to know that the nation imported integrated circuits worth USD 12.3 billion. This made the nation the 11^th largest importer of these items across the globe. As IC was the top export item in 2020 from the Philippines, IC was the top import item to the Philippines as well.

 

In referring to the Philippines Import Data with regard to the largest import partners, then the top 5 countries were:

·        South Korea (USD 2.75 billion)

·        Chinese Taipei (USD 2.65 billion)

·        China (USD 1.75 billion)

·        The United States (USD 1.33 billion)

·        Singapore (USD 1.06 billion)

In the year 2019-2020, the imports of the Philippines with regard to integrated circuits grew with the countries like South Korea, Japan, and Chinese Taipei.

INTEGRATED CIRCUITS TRADE – PHILIPPINES (2017-2021)
YEAR	IMPORTS	EXPORTS
2017	USD 12,341 million	USD 17,635 million
2018	USD 16,913 million	USD 13,711 million
2019	USD 13,463 million	USD 18,991 million
2020	USD 13,081 million	USD 20,220 million
2021	USD 15,424 million	USD 24,074 million

 

CONCLUSION

From the data and statistics mentioned above, it is clear that Integrated Circuits play a very crucial role in trade to and from the Philippines. As of 2020, this item was the 1^st largest item in terms of both, imports and exports of the Philippines which means that there is a huge dominance of IC on Import Export Data of the Philippines. We recommend all the big and small traders and marketers of Integrated circuits to target the Philippian market if you want high returns and profits.

 

 

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