Philippines: Memories Market 2025

Memories Market Size in the Philippines

The Philippine memories market shrank rapidly to $X in 2021, dropping by -71.9% against the previous year. Over the period under review, consumption continues to indicate a dramatic decline. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Memories Production in the Philippines

In value terms, memories production skyrocketed to $X in 2021 estimated in export price. Overall, production posted a significant increase. The pace of growth was the most pronounced in 2019 when the production volume increased by 796%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Memories Exports

Exports from the Philippines

In 2021, approx. X units of multichip integrated circuits: memories were exported from the Philippines; growing by 197% against 2020 figures. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 56,752% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, memories exports skyrocketed to $X in 2021. Overall, exports showed significant growth. The pace of growth appeared the most rapid in 2018 with an increase of 66,887%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

China (X units), Hong Kong SAR (X units) and Singapore (X units) were the main destinations of memories exports from the Philippines, with a combined 72% share of total exports. Mexico, the United States, Taiwan (Chinese) and Germany lagged somewhat behind, together accounting for a further 12%.

From 2017 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +1,387.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for memories exported from the Philippines were Hong Kong SAR ($X), Mexico ($X) and China ($X), together accounting for 62% of total exports.

Among the main countries of destination, Mexico, with a CAGR of +1,388.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average memories export price amounted to $X per unit, which is down by -13% against the previous year. In general, the export price showed a pronounced slump. The pace of growth was the most pronounced in 2018 an increase of 18%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Mexico ($X per unit), while the average price for exports to Singapore ($X per unit) was amongst the lowest.

From 2017 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+11.0%), while the prices for the other major destinations experienced mixed trend patterns.

Memories Imports

Imports into the Philippines

In 2021, supplies from abroad of multichip integrated circuits: memories was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. In general, total imports indicated a buoyant expansion from 2017 to 2021: its volume increased at an average annual rate of +12.4% over the last four years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -12.4% against 2018 indices. The growth pace was the most rapid in 2018 with an increase of 82%. As a result, imports attained the peak of X units. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, memories imports soared to $X in 2021. Overall, total imports indicated a prominent expansion from 2017 to 2021: its value increased at an average annual rate of +17.9% over the last four years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 72%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, South Korea (X units) constituted the largest supplier of memories to the Philippines, accounting for a 72% share of total imports. Moreover, memories imports from South Korea exceeded the figures recorded by the second-largest supplier, China (X units), fivefold. The third position in this ranking was held by Taiwan (Chinese) (X units), with a 5.5% share.

From 2017 to 2021, the average annual rate of growth in terms of volume from South Korea amounted to +16.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+60.3% per year) and Taiwan (Chinese) (+18.4% per year).

In value terms, South Korea ($X) constituted the largest supplier of multichip integrated circuits: memories to the Philippines, comprising 70% of total imports. The second position in the ranking was taken by China ($X), with a 22% share of total imports. It was followed by Taiwan (Chinese), with a 2.8% share.

From 2017 to 2021, the average annual growth rate of value from South Korea amounted to +11.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+64.7% per year) and Taiwan (Chinese) (+52.3% per year).

Import Prices by Country

The average memories import price stood at $X per unit in 2021, with an increase of 19% against the previous year. Over the period from 2017 to 2021, it increased at an average annual rate of +4.8%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per unit), while the price for Malaysia ($X per unit) was amongst the lowest.

From 2017 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+28.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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