Philippines Industrial Output Rises the Most Since 2022

Manufacturing production in the Philippines surged 14.7% year-on-year in April 2026, following an upwardly revised 13.1% increase in March. This was the fastest pace of growth since March 2022, largely driven by a sharp rise in the manufacture of coke and refined petroleum products (60.8% vs 4.6% in March), which accounted for 82.0% of the overall increase. Growth also strengthened in the manufacture of food products (9.7% vs 8.5%), transport equipment (11.8% vs 9.6%), and electrical equipment (10.1% vs 5.5%). Meanwhile, production rose at a slower pace for computer, electronic and optical products (19.0% vs 23.9%) and basic metals (29.1% vs 43.6%). On a seasonally adjusted monthly basis, manufacturing output went up 4.3%, after an upwardly revised 3.8% gain in the previous month. For the first four months of the year, output was 8.8% higher than in the same period last year.

Manufacturing production in the Philippines climbed 10.5% year-on-year in March 2026, accelerating from a downwardly revised 4.5% gain in the previous month. This marked the strongest annual growth since January 2023, driven largely by a rebound in the manufacture of coke and refined petroleum products (4% vs -16.6% in February), which contributed 41.1% to the overall increase. Other key contributors included the manufacture of computer, electronic and optical products (20.8% vs 15.2%), basic metals (42% vs 32.3%), and transport equipment (7.4% vs 2.2%). In contrast, output growth moderated in the manufacture of food products (3% vs 3.5%), other non-metallic mineral products (4.4% vs 5.1%), tobacco products (3.2% vs 11.1%), and leather and related products, including footwear (13% vs 18.3%). On a seasonally adjusted monthly basis, industrial output rose 1.9%, rebounding from a 0.3% fall in February. For the first quarter of the year, industrial output expanded 5.5%.

Manufacturing production in the Philippines grew by 4.6% year-on-year in February 2026, accelerating from a downwardly revised 2.6% rise in the previous month. This marked the fastest growth since July 2024, driven mainly by stronger output for basic metals (21.8% vs -4% in January), which contributed 54.2% to the annual growth of the overall manufacturing sector. Activity also remained strong in the manufacture of furniture (29% vs 19.9%), while it increased for computer, electronic and optical products (20% vs 22.6%), and leather and related products including footwear (17.2% vs 11.4%). Conversely, production growth softened notably for transport equipment (0.7% vs 1.5%), and rubber and plastic products (2.6% vs 9.8%), while output declined sharply for basic pharmaceutical products and preparations (-39.8% vs -12.3%). On a seasonally adjusted monthly basis, industrial output fell 0.3% in February, following a 2.7% gain in January.