Manufacturing production in the Philippines slumped 13.8 percent year-on-year in November of 2020, after a downwardly revised revised 12.3 percent fall a month earlier. This was the ninth straight month of decrease in manufacturing output and the steepest pace in four months, amid COVID-19 restrictions. Production fell further for petroleum products (-66% vs -73.8% in October), machinery except electrical (-34% vs -40.9%), footwear (-33.9% vs -44.9%), transport equipment (-23.2% vs -30.8%), tobacco (-56.9% vs -45.1%), non-metallic mineral products (-30.4% vs -27%), electrical machinery (-3.3% vs 0.7%), fabricated metal products (-29.2% vs -21.5%), rubber (-15% vs -15%), leather products (-43.4% vs -40.9%), and wood and wood products (-1.7% vs -8.7%). In contrast, output grew for basic metals (7.7% vs 14.7%), chemical products (1.6% vs 5.5%), and miscellaneous manufactures (11.7% vs 9.9%). source: Phillipine Statistics Authority
Industrial Production in Philippines averaged 7.31 percent from 1986 until 2020, reaching an all time high of 68.60 percent in April of 1988 and a record low of -40 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 January of 2021.
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. Looking forward, we estimate Industrial Production in Philippines to stand at 6.00 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.