Manufacturing production in the Philippines surged 528.1% year-on-year in July 2021, after an upwardly revised 444.6% growth in June. This was the fourth straight month of increase in manufacturing output and the strongest pace in the 2018-based data series, amid a low base effect from last year due to the impact of COVID-19, with the output of coke and refined petroleum products soaring further (4,096.1% vs 3,231% in June). Also, output rose further for computer, electronic (24.9% vs 26.7%), fabricated metal products (128.2% vs 140.3%), transport equipment (22.6% vs 28.5%), food products (11.5% vs 16.6%), electrical equipment (39.6% vs 65.2%), other non-metallic mineral products (11% vs 46.5%), basic metals (5.2% vs 8.2%), and pharmaceutical products (22% vs 17.8%). In contrast, output fell for tobacco products (-55.5% vs -59.9%), chemicals (-9.4% vs -19.1%), beverages (-6.8% vs 6.5%), and other manufacturing and repair and installation of machinry and equipment (-15.2% vs 11.4%). source: Phillipine Statistics Authority
Industrial Production in Philippines averaged 9.22 percent from 1986 until 2021, reaching an all time high of 528.10 percent in July 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 September of 2021.
Industrial Production in Philippines is expected to be 5.50 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 2022, according to our econometric models.