Manufacturing production in the Philippines eased to 10% year-on-year growth in September 2022, from an upwardly revised 11.8% rise in the previous month. It was the 17th month of successive expansion, as outputs soared on the back of further improvements in the COVID-19 situation. Output growth was seen in 15 out of 22 divisions, led by production in machinery and equipment except electrical (86.3% vs 85.1% in August), wood, bamboo, cane, rattan articles and related products (76.6% vs 9.9%), and chemical products (38.7% vs 23.9%). Conversely, manufacture of electrical equipment posted the highest decrease at -54.7% (vs -50%), along with basic metals (-34.2% vs -25.7%), and furniture (-11.5% vs -2.7%). Meanwhile, sharp swings were reported from printing and reproduction of recorded media (-6.5% vs 9%) and manufacture of beverages (-6.8% vs 0.6%). source: Philippine Statistics Authority
Industrial Production in Philippines averaged 11.75 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 December of 2022.
Industrial Production in Philippines is expected to be 4.00 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 7.00 percent in 2023 and 9.00 percent in 2024, according to our econometric models.