Manufacturing production in the Philippines grew by 9.8% yoy in June 2022, after a downwardly revised 8.0% gain in May This was the 15th straight month of expansion in manufacturing output and the steepest pace since March, amid further improvement in the COVID-19 situation with output growth mainly accelerating for food products (17.2% vs 12.2% in May), paper products (19.2% vs 17.5%), and furniture (7.5% vs 0.7%). In addition, there was a rebound in production of both other non-metallic mineral products (13.1% vs -5.6%) and textiles(30.1% vs -11.5%), while output rose further for computer, electronics (13% vs 15.5%), chemical (36.1% vs 53.7%), fabricated metal products (32.4% vs 33.1%), machinery and equipment (51.8% vs 62.5%), coke & refined petroleum (5% vs 7.1%), and other manufacturing and repair (7.1% vs 12.2%). In contrast, output fell for basic metals (-11.7% vs -18.6%), electrical equipment (-12.6% vs -14.5%), and pharmaceuticals (-15.1% vs -9.9%). source: Philippine Statistics Authority
Industrial Production in Philippines averaged 11.79 percent from 1986 until 2022, reaching an all time high of 531.30 percent in August of 2021 and a record low of -83.10 percent in August 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 August of 2022.
Industrial Production in Philippines is expected to be -15.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Philippines Manufacturing Production is projected to trend around 6.00 percent in 2023, according to our econometric models.