Manufacturing production in the Philippines declined by 13.8 percent year-on-year in August 2020, after an upwardly revised 17.2 percent slump a month earlier. This was the 21st straight month of decrease in manufacturing output, but the smallest fall since March, amid the prolonged impact caused by the COVID-19 outbreak that led factory closures and movement restrictions. Production fell softer for: transport equipment (-43.5% vs -61.1% in July), machinery except electrical (-38.5% vs 49.6%), tobacco (-36.6% vs -39.6%), footwear (-35.7% vs -39.1%), electrical machinery (-20.2% vs -23.7%), beverages (-8.5% vs -17.4%), rubber and plastic products (-12.4% vs -13.2%), food manufacturing (-4.6% vs -5.5%). In addition, output rebounded for chemical products (11.4% vs -3.1%), basic metals (0.1% vs -5.8%). Meantime, output continued to drop for non-metallic mineral products (-23.7% vs -20.7%), fabricated metal products (-15.4% vs -10.2%), petroleum products (-96.6% vs -89.3%). source: Phillipine Statistics Authority
Industrial Production in Philippines averaged 7.47 percent from 1986 until 2020, reaching an all time high of 68.60 percent in April of 1988 and a record low of -41.30 percent in April 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 October of 2020.
Industrial Production in Philippines is expected to be 5.30 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 5.50 in 12 months time. In the long-term, the Philippines Manufacturing Production is projected to trend around 6.00 percent in 2021, according to our econometric models.