- Production posts double-digit year-on-year increase
Production output of the manufacturing industry in April 2001 moved up by 21.0 percent in value and 12.7 percent in volume compared to year-ago figures according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI).
Sectors that significantly contributed to the favorable year-on-year performance in the value of production of the manufacturing industry were electrical machinery (60.1%), petroleum refineries (21.7%), textile (72.7%), wearing apparel (30.6%), non-metallic mineral products (22.3%) and miscellaneous manufactures (36.0%).
- While month-on-month production declines
Production output in April 2001 declined by 15.2 percent in value and 14.9 percent in volume compared to the output of the previous month. The low demand for products triggered the temporary or permanent shutdown of some firms which could have caused the unfavorable month-on-month performance of the manufacturing industry.
Double-digit month-on-month decreases in value of production were observed in food manufacturing (-21.7%), electrical machinery (-18.8%), basic metals (-15.85), wearing apparel (-12.6%), transport equipment (-16.7%), paper and paper products (-17.9%), rubber products (-25.1%), beverage (-11.0%) and tobacco (-18.8%).
- Net Sales rise but slower than production
Net sales improved as the value and volume expanded by 15.2 percent and 6.2 percent from their year-ago figures, respectively. The growth in value of net sales was higher by 1.0 percentage point than that posted in March 2001 while volume of net sales was higher by 2.3 percentage points than the growth reported last month.
Petroleum products was the top gainer in terms of value escalating by 20.2 percent. In terms of volume, however, the same sector declined by 0.6 percent. On the other hand, the largest declines in value and volume of net sales were noted in wearing apparel.
- Value of Production Index
In April 2001, the value of production index (VaPI) of 597.7 was higher by 21.0 percent than the 493.8 in April 2000. Year-on-year increases were observed in 9 out of 16 major sectors led by electrical machinery which increased by 60.1 percent (see Annex 1-A). Other sectors that posted double-digit increases were the following: petroleum refineries (21.7%), textile (72.7%), wearing apparel (30.6%), non-metallic mineral products (22.3%) and miscellaneous manufactures (36.0%).
On the other hand, double-digit decreases were observed in wood and wood products (-19.8%), transport equipment (-11.8%), rubber products (-15.5%) and tobacco (-14.5%).
- Volume of Production Index
The volume of production index (VoPI) for total manufacturing of 148.3 increased by 12.7 percent from 131.6 of the same month last year. Six out of 16 sectors posted year-on-year increases (see Annex 1-B). Electrical machinery posted the highest increase of 42.6 percent, followed by textile with 74.3 percent.
On the other hand, double-digit decreases were observed in wearing apparel (-16.1%), wood and wood products (-20.4%), transport equipment (-16.8%), paper and paper products (-15.4%), rubber products (-16.7%), other manufacturing industries (-15.3%), and tobacco (-23.8%).
- Value of Net Sales
The value of net sales for April 2001 increased by 15.2 percent over the same month last year. There were 13 major sectors which exhibited growth in their value of net sales. Petroleum refineries was the leading sector, posting 20.2 percent growth over the same month last year (see Annex 2-A). Other sectors recorded double-digit year-on-year increases were basic metals (41.8%), food manufacturing (12.8%), textile (44.2%), transport equipment (42.5%), non-metallic mineral products (31.1%), paper and paper products (13.8%), furniture and fixtures (11.1%) and tobacco (18.4%).
On the other hand, wearing apparel, rubber products and miscellaneous manufactures declined by 21.4 percent, 9.0 percent and 1.6 percent, respectively.
- Volume of Net Sales
The volume of net sales for April 2001 increased by 6.2 percent over the same month last year. Increases were observed in 11 out of 16 sectors led by basic metals which increased by 43.3 percent (see Annex 2-B). Other sectors that posted double-digit increases were food manufacturing (12.2%), textile (45.6%), transport equipment (34.3%) and non-metallic mineral products (23.7%).
On the other hand, sectors that registered negative growth were wearing apparel (-49.5%), electrical machinery (-10.8%), miscellaneous manufactures (-38.7%), rubber products (-10.3%) and petroleum products (-0.6%).
- Producer's Price Index
Producer price index (PPI) for total manufacturing increased by 7.4 percent to 157.0 in April 2001 from 146.1 in April 2000. On a month-on-month basis, PPI decreased by 0.3 percent.
Double-digit year-on-year increases were observed in the following sectors: other manufacturing industries (60.7%), wearing apparel (55.8%), fabricated metals (21.8%), petroleum products (21.0%), glass and glass products (17.9%), electrical machinery (12.2%), tobacco (12.2%), industrial chemicals (11.7%), printing and publishing (11.6%) and cement (11.1%).
- Capacity Utilization
The proportion of responding establishments that operated at full capacity (90%-100%) in April 2001 was 17.2 percent, lower by 2.1 percentage points from 19.3 percent in April 2000 (see Annex 3-A). Those operating below 70 percent capacity utilization accounted for 43.3 percent. This proportion was higher by 3.8 percentage points compared to 39.5 percent a year ago.
Average capacity utilization rate for April 2001 for manufacturing was estimated at 75.5 percent, 3.6 percentage points lower than the 79.1 percent posted in April 2000 (see Annex 3-B). Of the 16 sectors, 6 sectors posted more than 79 percent capacity utilization rates. Tobacco reported the highest capacity utilization rate of 84.8 percent. Other sectors with more than 79 percent capacity utilization rates were paper and paper products (84.1%), petroleum products (81.8%), chemicals (81.0%), furniture and fixtures (80.0%) and miscellaneous manufactures (80.0%). On the other hand, rubber products and basic metals posted the lowest capacity utilization rate of 65.2 percent.
- Response Rate
These results were based on the response of 429 sample establishments, which comprised 82.2 percent of the total number of manufacturing establishments covered by the survey.
- Explanatory Note
The reversed trend observed in some sectors/sub-sectors for the revised figures as compared to the preliminary figures are attributed to the following reasons:
* receipt of late reports from establishments; and
* receipt of revised figures from establishments.
ANNEX 1-A
VALUE OF PRODUCTION INDEX, MARCH - APRIL 2001
Gainers | Year-on-Year Growth (%) | |
April | March r | |
Electrical Machinery |
60.1 |
25.9 |
Petroleum Products |
21.7 |
51.6 |
Textile |
72.7 |
1.7 |
Wearing Apparel |
30.6 |
32.8 |
Non-Metallic Mineral Products |
22.3 |
33.4 |
Basic Metals |
4.0 |
12.1 |
Miscellaneous Manufactures |
36.0 |
39.5 |
Chemicals |
1.1 |
-11.8 |
Beverage |
0.2 |
7.0 |
Losers | Year-on-Year Growth (%) | |
April | March r | |
Food Manufacturing |
-4.6 |
2.6 |
Wood & Wood Products |
-19.8 |
-28.4 |
Transport Equipment |
-11.8 |
17.4 |
Paper & Paper Products |
-8.3 |
6.8 |
Rubber Products |
-15.5 |
-6.3 |
Furniture & Fixtures |
-4.8 |
-2.0 |
Tobacco |
-14.5 |
9.3 |
Gainers | Month-on-Month Growth (%) | |
April | March r | |
Textile |
58.5 |
-3.6 |
Losers | Month-on-Month Growth (%) | |
April | March r | |
Food Manufacturing |
-21.7 |
6.5 |
Electrical Machinery |
-18.8 |
13.6 |
Petroleum Products |
-6.2 |
10.3 |
Basic Metals |
-15.8 |
10.7 |
Wearing Apparel |
-12.6 |
4.1 |
Chemicals |
-8.3 |
10.5 |
Transport Equipment |
-16.7 |
- 3.4 |
Paper & Paper Products |
-17.9 |
4.0 |
Rubber Products |
-25.1 |
22.6 |
Non-Metallic Mineral Products |
-9.6 |
7.3 |
Beverage |
-11.0 |
22.3 |
Wood & Wood Products |
-4.9 |
-3.9 |
Tobacco |
-18.8 |
-6.7 |
Furniture & Fixtures |
-5.7 |
-4.8 |
Miscellaneous Manufactures |
-7.4 |
0.5 |
Note: Sectors are ranked according to their contribution to the overall April 2001 growth rate.
r - revised due to updating of data from late responding establishments.
Year-on-year growth rates are computed by dividing the current month index by previous year same month index less 1.
Month-on-month growth rates are computed by dividing the current month index by previous month index less 1.
ANNEX 1-B
VOLUME OF PRODUCTION INDEX, MARCH - APRIL 2001
Gainers | Year-on-Year Growth (%) | |
April | March r | |
Electrical Machinery |
42.6 |
12.3 |
Textile |
74.3 |
2.2 |
Non-Metallic Mineral Products |
8.7 |
16.3 |
Petroleum Products |
0.6 |
25.3 |
Basic Metals |
0.9 |
7.0 |
Beverage |
1.2 |
9.5 |
Losers | Year-on-Year Growth (%) | |
April | March r | |
Food Manufacturing |
-5.1 |
0.6 |
Wearing Apparel |
-16.1 |
-15.2 |
Wood & Wood Products |
-20.4 |
-28.2 |
Transport Equipment |
-16.8 |
10.6 |
Paper & Paper Products |
-15.4 |
-4.6 |
Chemicals |
-6.0 |
-18.7 |
Rubber Products |
-16.7 |
-6.0 |
Other Manufacturing Industries |
-15.3 |
-14.8 |
Tobacco |
-23.8 |
-2.6 |
Furniture & Fixtures |
-6.9 |
-4.1 |
Gainers | Month-on-Month Growth (%) | |
April | March r | |
Textile |
59.7 |
-4.2 |
Losers | Month-on-Month Growth (%) | |
April | March r | |
Food Manufacturing |
-20.6 |
7.5 |
Electrical Machinery |
-19.4 |
13.9 |
Petroleum Products |
-5.9 |
9.9 |
Basic Metals |
-15.8 |
10.7 |
Wearing Apparel |
-12.6 |
4.1 |
Chemicals |
-8.5 |
9.7 |
Transport Equipment |
-16.9 |
-3.7 |
Paper & Paper Products |
-17.0 |
6.1 |
Rubber Products |
-25.1 |
22.6 |
Non-Metallic Mineral Products |
-8.8 |
6.5 |
Beverage |
-11.7 |
24.5 |
Wood & Wood Products |
-4.9 |
-4.0 |
Other Manufacturing Industries |
-8.7 |
0.3 |
Tobacco |
-18.8 |
-6.7 |
Furniture & Fixtures |
-5.7 |
-4.8 |
Note: Sectors are ranked according to their contribution to the overall April 2001 growth rate.
r - revised due to updating of data from late responding establishments.
Year-on-year growth rates are computed by dividing the current month index by previous year same month index less 1.
Month-on-month growth rates are computed by dividing the current month index by previous month index less 1.
ANNEX 2-A
VALUE OF NET SALES, MARCH - APRIL 2001
Gainers | Year-on-Year Growth (%) | |
April | March r | |
Petroleum Products |
20.2 |
25.1 |
Basic Metals |
41.8 |
11.1 |
Food Manufacturing |
12.8 |
7.8 |
Textile |
44.2 |
40.5 |
Transport Equipment |
42.5 |
1.1 |
Non-Metallic Mineral Products |
31.1 |
32.9 |
Chemicals |
9.4 |
9.3 |
Paper & Paper Products |
13.8 |
7.8 |
Wood & Wood Products |
3.8 |
-18.6 |
Furniture & Fixtures |
11.1 |
-3.7 |
Beverage |
2.1 |
9.0 |
Tobacco |
18.4 |
31.0 |
Electrical Machinery |
0.1 |
22.2 |
Losers | Year-on-Year Growth (%) | |
April | March r | |
Wearing Apparel |
-21.4 |
1.8 |
Rubber Products |
-9.0 |
7.2 |
Miscellaneous Manufactures |
-1.6 |
13.5 |
Losers | Month-on-Month Growth (%) | |
April | March r | |
Electrical Machinery |
-25.3 |
14.9 |
Petroleum Products |
-11.9 |
15.2 |
Food Manufacturing |
-8.3 |
-3.4 |
Wearing Apparel |
-19.0 |
-4.1 |
Chemicals |
-8.6 |
14.1 |
Paper & Paper Products |
-15.2 |
2.2 |
Transport Equipment |
-13.4 |
-1.0 |
Basic Metals |
-6.6 |
-0.7 |
Rubber Products |
-21.0 |
-6.2 |
Basic Metals |
-7.6 |
-0.7 |
Beverage |
-10.5 |
30.2 |
Textile |
-3.1 |
5.1 |
Non-Metallic Mineral Products |
-4.7 |
17.6 |
Miscellaneous Manufactures |
-21.4 |
24.9 |
Wood & Wood Products |
-2.2 |
2.4 |
Tobacco |
-8.5 |
9.7 |
Furniture & Fixtures |
-1.6 |
-2.9 |
Note: Sectors are ranked according to their contribution to the overall April 2001 growth rate.
r - revised due to updating of data from late responding establishments.
Year-on-year growth rates are computed by dividing the current month volume of net sales by previous year same month volume of net sales less 1.
Month-on-month growth rates are computed by dividing the current month volume of net sales by previous month volume of net sales less 1.
ANNEX 2-B
VOLUME OF NET SALES, MARCH - APRIL 2001
Gainers | Year-on-Year Growth (%) | |
April | March r | |
Basic Metals |
43.3 |
12.3 |
Food Manufacturing |
12.2 |
5.7 |
Textile |
45.6 |
41.2 |
Transport Equipment |
34.3 |
-4.7 |
Non-Metallic Mineral Products |
23.7 |
25.1 |
Paper & Paper Products |
5.0 |
-3.7 |
Chemicals |
1.8 |
0.7 |
Wood & Wood Products |
3.0 |
-18.5 |
Beverage |
3.1 |
11.6 |
Furniture & Fixtures |
8.7 |
-5.8 |
Tobacco |
5.5 |
16.7 |
Losers | Year-on-Year Growth (%) | |
April | March r | |
Wearing Apparel |
-49.5 |
-35.0 |
Electrical Machinery |
-10.8 |
9.0 |
Miscellaneous Manufactures |
-38.7 |
-30.7 |
Rubber Products |
-10.3 |
7.5 |
Petroleum Products |
-0.6 |
3.4 |
Losers | Month-on-Month Growth (%) | |
April | March r | |
Electrical Machinery |
-26.0 |
15.2 |
Petroleum Products |
-11.6 |
14.9 |
Food Manufacturing |
-7.0 |
-0.1 |
Wearing Apparel |
-19.0 |
-2.9 |
Chemicals |
-8.9 |
13.3 |
Transport Equipment |
-13.6 |
-3.7 |
Paper & Paper Products |
-14.2 |
4.3 |
Basic Metals |
-6.3 |
-5.8 |
Rubber Products |
-21.0 |
-0.7 |
Beverage |
-11.2 |
32.6 |
Non-Metallic Mineral Products |
-4.7 |
17.6 |
Textile |
-2.4 |
4.6 |
Miscellaneous Manufactures |
-22.5 |
24.7 |
Wood & Wood Products |
-2.3 |
2.4 |
Tobacco |
-8.5 |
9.7 |
Furniture & Fixtures |
-1.6 |
-4.1 |
Note: Sectors are ranked according to their contribution to the overall April 2001 growth rate.
r - revised due to updating of data from late responding establishments.
Year-on-year growth rates are computed by dividing the current month volume of net sales by previous year same month volume of net sales less 1.
Month-on-month growth rates are computed by dividing the current month volume of net sales by previous month volume of net sales less 1.
Source: National Statistics Office
Manila, Philippines