Manufacturing production in the Philippines grew by 9.7% yoy in April 2022, slowing sharply from an upwardly revised 375.1% jump a month earlier and pointing to the softest growth since March 2021, amid supply chain chaos due to the impact of prolonged war in Ukraine. Output growth slowed sharply for coke and refined petroleum products (8.9% vs 2,669.0% in March), along with computer, electronics (13.0% vs 13.9%), fabricated metal products (31.8% vs 32.7%), machinery and equipment (43.4% vs 46.9%), rubber & plastics (15.2% vs 24.0%), basic metals (3.4% vs 8.4%), manufacturing and repair (6.3% vs 24.7%), and wood, bamboo, cane (3.6% vs 26.5%). In addition, production fell further for transport equipment (-9.7% vs -8.8%), electrical equipment (-25.4% vs -28.3%), other non-metallic mineral products (-1.8% vs -1.8%), and pharmaceuticals (-10.5% vs -3.2%). By contrast, output rose faster for foods (16.1% vs 9.3%), chemicals (47.7% vs 40.7%), and textiles (51.1% vs 29.4%). source: Philippine Statistics Authority
Industrial Production in Philippines averaged 11.77 percent from 1986 until 2022, reaching an all time high of 528.70 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 June of 2022.
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. In the long-term, the Philippines Manufacturing Production is projected to trend around 6.00 percent in 2023, according to our econometric models.