Manufacturing production in the Philippines surged 154.3% year-on-year in April 2021, rebounding sharply from a 74.2% plunge in March. This was the strongest increase in manufacturing output since the series began in 1986, amid a low base effect from last year, due to the impact of the coronavirus pandemic. Production recovered for: machinery except electrical (28.2% vs -24.3%), wearing apparel (521.8% vs -4.0%), while output grew more for textiles (335.2% vs 7.4%), electrical equipment (246.0% vs 54.8%), food products (39.2% vs 10.1%), fabricated metal products (571.6% vs 103.2%), furniture (546.2% vs 22.3%), rubber and plastic products (173.9% vs 38.7%), transport equipment (419.6% vs 41.4%), paper products (61.8% vs 33.8%), electronic and optical products (68.3% vs 16.3%), and other non-metallic mineral products (294.4% vs 47.9%). In addition, production fell much less for both pharmaceutical (-19.4% vs -29.2%) and coke and refined petroleum products (-24.5% vs -97.4%). source: Phillipine Statistics Authority
Industrial Production in Philippines averaged 6.08 percent from 1986 until 2021, reaching an all time high of 68.60 percent in April of 1988 and a record low of -82.90 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 2021.
Industrial Production in Philippines is expected to be 9.50 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 7.50 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.