Manufacturing production in the Philippines dropped by 10.8 percent year-on-year in April 2019, following a 5.4 percent fall in a month earlier. This was the steepest yearly decline in manufacturing output since March 2013, as production fell further for: food manufacturing (-23.9 pct vs -18.5 pct in March), petroleum products (-25.1 pct vs -19.1 pct), basic metals (-23 pct vs -9 pct), tobacco products (-35.4 pct vs -0.6 pct), transport equipment (-7.5 pct vs 17.4 pct), beverages (-3.7 pct vs 9.6 pct), textiles (-3.4 pct vs 11. pct), leather (-24 pct vs 1 pct), and miscellaneous manufactures (-1.8 pct vs 3.8 pct). In contrast, output grew for: electrical machinery (3 pct vs 0.1 pct), chemicals (5.5 pct vs 1.8 pct), fabricated metal products (21.9 pct vs 13.7 pct), machinery except electrical (1.8 pct vs 5 pct), non-metallic mineral products (3.8 pct vs 6.2 pct), printing (9.2 pct vs 39.3 pct), and rubber and plastucs (2.9 pct vs 11.1 pct). Industrial Production in Philippines averaged 8.24 percent from 1986 until 2019, reaching an all time high of 68.60 percent in April of 1988 and a record low of -26.60 percent in January of 2009.
Industrial Production in Philippines is expected to be -3.00 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 4.20 in 12 months time. In the long-term, the Philippines Manufacturing Production is projected to trend around 5.30 percent in 2020, according to our econometric models.