Manufacturing production in the Philippines declined by 5.1 percent year-on-year in December 2020, after a downwardly revised 11.5 percent slump in November. This was the tenth straight month of drop in manufacturing output but the weakest pace in the sequence, amid ongoing COVID-19 restrictions. There were falls in the production of petroleum products (-48.1% vs -65.9% in November), machinery except electrical (-33.4% vs -29.5%), footwear (-37.7% vs -33.3%), transport equipment (-19.1% vs -16.5%), tobacco (-43.8% vs -53.5%), non-metallic mineral products (-27.4% vs -30.2%), fabricated metal products (-19.8% vs -21.2%), leather products (-40.7% vs -42.9%), and miscellaneous manufactures (-3.3% vs -11.1%). In contrast, output grew for food manufacturing (7.0% vs 1.9%), electrical machinery (4.5% vs -3.3%), chemical products (4.5% vs 2.0%), beverages (1.5% vs -13.7%), and rubber and plastic products (1.5% vs -5.6%). source: Phillipine Statistics Authority
Industrial Production in Philippines averaged 7.29 percent from 1986 until 2020, reaching an all time high of 68.60 percent in April of 1988 and a record low of -39.50 percent in April of 2020. This page provides - Philippines Industrial Production - actual values, historical data, forecast, chart, statistics, economic calendar and news. Philippines Manufacturing Production - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.
Industrial Production in Philippines is expected to be -10.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Philippines to stand at 6.00 in 12 months time. In the long-term, the Philippines Manufacturing Production is projected to trend around 6.00 percent in 2022, according to our econometric models.