Manufacturing production in the Philippines tumble 74.2 percent year-on-year in March 2021, after revised 46.4 percent plunge in February. This was the steepest decline in manufacturing output since last August, amid disruptions caused by COVID-19 pandemic. Production fell more for, among other: petroleum products (-97.3.3% vs -88.6% in February), pharmaceutical products (-28.0% vs -25.4%). Meanwhile, production continued to fall for machinery except electrical (-39.3% vs -54.1%), textiles (-1.3% vs -27.1%). By contrast, output grew for electrical equipment (33.6% vs 0.5%), food products (2.0% vs -12.0%), fabricated metal products (84.9% vs 25.9%), wearing apparel (8.7% vs -28.2%), furniture (23.9% vs -24.7%), rubber and plastic products (39.0.3% vs -15.4%), transport equipment (23.0% vs -11.7%), paper products (25.6% vs -8.4%), electronic and optical products (1.8% vs -16.2%), and non-metallic mineral products (44.0% vs -6.1%). 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 May 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.