- Value of Production Index (VaPI) climbs in January 2002
Value of Production Index (VaPI) of the manufacturing industry grew in January 2002 by 3.4 percent compared to year ago figures according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI).
YEAR-ON-YEAR GROWTH RATES OF VaPI
TOTAL MANUFACTURING
(1994=100)
| January 2002 | December 2001 (revised) |
| 3.4 | 0.3 |
Sectors that significantly contributed to the increase were the following: food manufacturing, non-metallic mineral products, basic metals, transport equipment, printing and publishing, tobacco, machinery excluding electrical, and textile (see Annex 1-A).
- Volume of Production Index (VoPI) continues to decrease
The VoPI continued to decline in January 2002, but slower at 0.5 percent. Double-digit decreases were observed in the following sectors: petroleum products, paper and paper products, electrical machinery, furniture and fixtures, miscellaneous manufactures, and rubber products (see Annex 1-B).
YEAR-ON-YEAR GROWTH RATES OF VoPI
TOTAL MANUFACTURING
(1994=100)
| January 2002 | December 2001 (revised) |
| -0.5 | -11.0 |
- Value of Net Sales continues to fall
Since December 2001, the value of net sales continued to fall at 0.9 percent in January 2002. Sectors that significantly contributed to the decline were the following: petroleum products, food manufacturing, beverages, paper and paper products, miscellaneous manufactures, machinery excluding electrical, wood and wood products, furniture and fixtures, fabricated metal products, and leather products (see Annex 2-A).
YEAR-ON-YEAR GROWTH RATES OF VALUE OF NET SALES
TOTAL MANUFACTURING
(1994=100)
| January 2002 | December 2001 (revised) |
| -0.9 | 0.2 |
- Volume of Net Sales on the downtrend
The volume of net sales continued to decline since September 2001, reflecting a slower decrease of 1.0 percent in January 2002. Sectors that contributed most to the slowdown were: beverages, paper and paper products, non-metallic mineral products, machinery excluding electrical, miscellaneous manufactures, furniture and fixtures, fabricated metal products, and wood and wood products (see Annex 2B).
YEAR-ON-YEAR GROWTH RATES OF VOLUME OF NET SALES
TOTAL MANUFACTURING
(1994=100)
| January 2002 | December 2001 (revised) |
| -1.0 | -4.4 |
- Producer's Price Index (PPI) increases at slower rate
Producer's Price Index (PPI) for January 2002 for total manufacturing gained 3.9 percent compared to the same month of previous year. Double-digit year-on-year increases were observed in the following sectors: furniture and fixtures, printing and publishing, glass and glass products, basic metals, non-ferrous metals, and electrical machinery (see Table 5).
YEAR-ON-YEAR GROWTH RATES OF PRODUCER'S PRICE INDEX
TOTAL MANUFACTURING
(1994=100)
| January 2002 | December 2001 (revised) |
| 3.9 | 12.7 |
- Capacity Utilization
The proportion of responding establishments that operated at full capacity (90%-100%) in January 2002 was 20.5 percent. About 37.3 percent of the responding establishments operated at 70% - 89% capacity and establishments operating below 70% capacity accounted for 42.3 percent.
DISTRIBUTION OF KEY MANUFACTURING ESTABLISHMENTS
BY CAPACITY UTILIZATION
TOTAL MANUFACTURING, JANUARY 2002
(In percent)
| Capacity Utilization | 1994-based |
|
Below 50% |
16.8 |
|
50% - 59% |
10.6 |
|
60% - 69% |
14.9 |
|
70% - 79% |
18.1 |
|
80% - 89% |
19.2 |
|
90% - 100% |
20.5 |
Average capacity utilization rate for January 2002 for total manufacturing was estimated at 74.4 percent. Sectors that posted more than 80% capacity utilization rate were the following: machinery excluding electrical, rubber products, petroleum products, printing and publishing, and electrical machinery (see Annex 3-A).
AVERAGE CAPACITY UTILIZATION FOR TOTAL MANUFACTURING
(In percent)
| January 2002 | December 2001 (revised) |
| 74.4 | 76.5 |
- Response Rates
The response rate for January 2002 is 82.5 percent, which corresponds to the response of 476 sample establishments. (see Table 6).
Revisions in the figures of the previous month were due to the inclusion of reports of the sample establishments which were received after the cut off date.
Starting with the January 2002 MISSI report and after releasing a parallel series for a period of six months (July 2001 - December 2001) the 1985-based MISSI data shall not be released anymore.
| (Sgd.) CARMELITA N. ERICTA Administrator |
ANNEX 1-A
VALUE OF PRODUCTION INDEX, DECEMBER 2001-JANUARY 2002
(1994 =100)
| Gainers | Year-on-Year Growth (%) | |
| January 2002 | December 2001 (revised) |
|
| Food Manufacturing | 49.6 | 13.6 |
| Non-Metallic Mineral Products | 75.0 | 20.8 |
| Basic Metals | 15.8 | -8.1 |
| Transport Equipment | 14.7 | 1.6 |
| Printing and Publishing | 49.0 | 52.3 |
| Tobacco | 19.5 | -34.7 |
| Chemical Products | 4.1 | 16.8 |
| Machinery Excl. Electrical | 31.8 | 39.3 |
| Textiles | 13.2 | -5.3 |
| Beverages | 0.9 | 4.4 |
| Losers | Year-on-Year Growth (%) | |
| Jan 2002 | December 2001 (revised) |
|
| Petroleum Products | -30.7 | - 23.9 |
| Electrical Machinery | - 15.1 | - 3.4 |
| Paper & Paper Products | - 30.9 | - 30.6 |
| Footwear & Wearing Apparel | -12.2 | 30.6 |
| Miscellaneous Manufactures | -24.9 | 5.0 |
| Furniture & Fixtures | - 21.3 | - 5.7 |
| Wood Products | - 8.3 | - 10.4 |
| Rubber Products | - 10.1 | - 7.3 |
| Fabricated Metal Products | - 3.2 | - 8.0 |
| Leather Products* | -33.5 | - 62.7 |
ANNEX 1-A
VALUE OF PRODUCTION INDEX, DECEMBER 2001 - JANUARY 2002(concluded)
| Gainers | Month-on-Month Growth (%) | |
| January 2002 | December 2001 (revised) |
|
| Food Manufacturing | 27.3 | 0.7 |
| Transport Equipment | 45.8 | -25.6 |
| Tobacco | 75.7 | -39.2 |
| Non-Metallic Mineral Products | 60.9 | 16.2 |
| Textiles | 26.2 | -17.1 |
| Fabricated Metal Products | 15.9 | - 8.5 |
| Machinery Excl. Electrical | 20.8 | - 6.3 |
| Rubber Products | 32.1 | 2.7 |
| Leather Products | 106.7 | 22.7 |
| Printing and Publishing | 8.3 | 18.3 |
| Losers | Month-on-Month Growth (%) | |
| January 2002 | December 2001 (revised) |
|
| Electrical Machinery | -23.8 | - 4.0 |
| Petroleum Products | - 21.2 | 1.4 |
| Footwear & Wearing Apparel | - 46.0 | 18.3 |
| Chemical Products | - 10.7 | 7.5 |
| Beverages | - 19.7 | 15.9 |
| Basic Metals | - 20.5 | 52.3 |
| Furniture & Fixtures | - 19.2 | 3.0 |
| Paper & Paper Products | - 5.2 | - 0.2 |
| Wood Products | - 9.3 | - 16.6 |
| Miscellaneous Manufactures | - 7.1 | - 7.0 |
Note: * - new sectors in the 1994-based series
Sectors are ranked according to their contribution to the overall 1994-based January 2002 growth rate.
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, DECEMBER 2001- JANUARY 2002
(1994=100)
| Gainers | Year-on-Year Growth (%) | |
| January 2002 | December 2001 (revised) |
|
| Food Manufacturing | 52.6 | 12.4 |
| Footwear & Wearing Apparel | 63.9 | 123.8 |
| Non-Metallic Mineral Products | 62.4 | 9.0 |
| Transport Equipment | 14.7 | - 6.9 |
| Basic Metals | 4.5 | -29.7 |
| Tobacco | 21.7 | -45.5 |
| Textile | 12.1 | -14.2 |
| Machinery Excl. Electrical | 22.5 | 24.7 |
| Printing and Publishing | 16.7 | 12.9 |
| Chemicals/Plastic & Plastic Products | 0.4 | - 4.7 |
| Leather Products | 9.4 | -42.6 |
| Losers | Year-on-Year Growth (%) | |
| January 2002 | December 2001 (revised) |
|
| Petroleum Products | - 24.4 | - 14.7 |
| Paper & Paper Products | - 31.6 | - 41.3 |
| Electrical Machinery | - 33.8 | - 30.7 |
| Beverage | - 6.4 | - 10.2 |
| Furniture & Fixtures | - 45.3 | - 9.7 |
| Miscellaneous Manufactures | - 23.9 | 1.7 |
| Fabricated Metal Products | - 5.5 | - 10.9 |
| Rubber Products | - 13.4 | - 10.7 |
| Gainers | Month-on-Month Growth (%) | |
| January 2002 | December 2001 (revised) |
|
| Food Manufacturing | 27.6 | 0.6 |
| Transport Equipment | 47.1 | -25.6 |
| Tobacco | 82.1 | -39.2 |
| Non-Metallic Mineral Products | 59.6 | 16.5 |
| Textile | 29.3 | -16.6 |
| Fabricated Metals | 16.4 | -8.5 |
| Machinery Excl. Electrical | 20.2 | -6.3 |
| Rubber Products | 32.2 | 2.7 |
| Leather Products* | 113.2 | 22.7 |
| Paper & Paper Products | 0.2 | 1.6 |
ANNEX 1-B
VOLUME OF PRODUCTION INDEX, DECEMBER 2001- JANUARY 2002(concluded)
| Losers | Month-on-Month Growth (%) | |
| January 2001 | December 2001 (revised) |
|
| Petroleum Products | - 19.8 | 5.2 |
| Footwear & Wearing Apparel | - 46.9 | 16.8 |
| Chemicals/Plastic & Plastic Products | - 9.8 | 7.7 |
| Beverage | - 17.2 | 16.0 |
| Basic Metals | - 20.3 | 52.1 |
| Electrical Machinery | -39.7 | - 4.1 |
| Furniture and Fixtures | -43.9 | 3.1 |
| Publishing & Printing | -12.4 | 18.3 |
| Wood & Wood Products | -10.0 | - 16.6 |
| Miscellaneous Manufactures | - 7.3 | - 6.9 |
Note: * - new sectors in the 1994-based series
Sectors are ranked according to their contribution to the overall 1994-based January 2002 growth rate.
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, DECEMBER 2001- JANUARY 2002
(1994=100)
| Gainers | Year-on-Year Growth (%) | |
| January 2002 | December 2001 (revised) |
|
| Electrical Machinery | 28.9 | 4.0 |
| Basic Metals | 32.2 | -8.9 |
| Footwear and Wearing Apparel | 12.5 | -4.2 |
| Tobacco | 15.3 | -12.8 |
| Publishing and Printing | 20.6 | 19.0 |
| Chemicals | 0.7 | 7.0 |
| Losers | Year-on-Year Growth (%) | |
| January 2002 | December 2001 (revised) |
|
| Petroleum Products | - 17.4 | - 15.6 |
| Food Manufacturing | -10.6 | 0.1 |
| Beverages | -15.1 | -0.8 |
| Paper & Paper Products | - 27.9 | - 18.1 |
| Transport Equipment | - 6.3 | -4.8 |
| Miscellaneous Manufactures | - 30.0 | 35.3 |
| Machinery excl. Electrical | -22.4 | -17.8 |
| Wood and Wood Products | - 20.3 | - 13.2 |
| Fabricated Metal Products | - 10.7 | 127.0 |
| Non-Metallic Mineral Products | - 5.1 | 7.8 |
| Furniture and Fixtures | - 25.6 | -27.6 |
| Textiles | - 3.0 | - 2.6 |
| Leather Products | - 25.3 | -63.0 |
| Rubber Products | - 4.7 | 34.6 |
ANNEX 2-A
VALUE OF NET SALES, DECEMBER 2001- JANUARY 2002 (concluded)
(1994=100)
| Gainers | Month-on-Month Growth (%) | |
| January 2002 | December 2001 (revised) |
|
| Electrical Machinery | 11.4 | -9.9 |
| Tobacco | 33.6 | -17.1 |
| Transport Equipment | 8.5 | -18.4 |
| Non-Metallic Mineral Products | 8.8 | -10.5 |
| Publishing and Printing | 20.7 | -11.6 |
| Machinery Excl. Electrical | 18.7 | - 4.8 |
| Leather Products* | 163.8 | 1.6 |
| Fabricated Metal Products | 10.9 | -21.9 |
| Rubber Products | 3.6 | -7.8 |
| Furniture and Fixtures | 0.1 | -8.8 |
| Losers | Month-on-Month Growth (%) | |
| January 2002 | December 2001 (revised) |
|
| Food Manufacturing | -27.0 | -4.9 |
| Beverage | - 29.6 | 19.4 |
| Footwear & Wearing Apparel | - 34.2 | 21.6 |
| Basic Metals | - 16.4 | 12.9 |
| Chemicals | - 8.5 | 0.5 |
| Petroleum Products | - 6.7 | 3.8 |
| Paper & Paper Products | - 8.4 | 0.0 |
| Wood and Wood Products | - 10.0 | - 18.1 |
| Miscellaneous Manufactures | -9.4 | - 10.4 |
| Textiles | - 3.4 | -3.8 |
Note: * - new sectors in the 1994-based series
Sectors are ranked according to their contribution to the overall 1994-based January 2002 growth rate.
Year-on-year growth rates are computed by dividing the current month value of net sales by previous year same month value of net sales less 1.
Month-on-month growth rates are computed by dividing the current month value of net sales by previous month value of net sales less 1.
ANNEX 2-B
VOLUME OF NET SALES, DECEMBER 2001- JANUARY 2002
(1994=100)
| Gainers | Year-on-Year Growth (%) | |
| January 2002 | December 2001 (revised) |
|
| Leather Products | 23.0 | -43.0 |
| Footwear and Wearing Apparel | 110.0 | 64.3 |
| Basic Metals | 19.3 | -30.3 |
| Tobacco | 17.4 | - 27.2 |
| Electrical Machinery | 0.5 | -25.4 |
| Losers | Year-on-Year Growth (%) | |
| January 2002 | December 2001 (revised) |
|
| Food Manufacturing | -8.8 | -0.9 |
| Petroleum Products | - 9.9 | - 5.3 |
| Beverages | - 21.2 | - 14.7 |
| Paper & Paper Products | - 28.6 | - 30.7 |
| Non-Metallic Mineral Products | -11.9 | 12.7 |
| Transport Equipment | -6.3 | -12.7 |
| Machinery excl. Electrical | - 27.9 | -26.4 |
| Chemicals | - 2.9 | -12.7 |
| Miscellaneous Manufactures | - 29.0 | 138.7 |
| Furniture & Fixtures | -48.2 | - 30.6 |
| Fabricated Metal Products | -12.8 | 120.0 |
| Wood & Wood Products | - 20.6 | - 13.6 |
| Textiles | - 3.9 | - 11.7 |
| Publishing and Printing | - 5.6 | -11.8 |
| Rubber Products | -8.2 | 29.7 |
| Gainers | Month-on-Month Growth (%) | |
| January 2002 | December 2001 (revised) |
|
| Rubber Products | 3.6 | -7.9 |
| Fabricated Metal Products | 11.4 | -21.9 |
| Leather Products | 172.0 | 1.6 |
| Machinery excl. Electrical | 18.1 | -4.8 |
| Non-Metallic Mineral Products | 8.0 | -10.3 |
| Tobacco | 38.5 | - 17.1 |
| Transport Equipment | 9.5 | -18.4 |
ANNEX 2-B
VOLUME OF NET SALES, DECEMBER 2001- JANUARY 2002(concluded)
(1994=100)
| Losers | Month-on-Month Growth (%) | |
| January 2002 | December 2001 (revised) |
|
| Food Manufacturing | -26.9 | -5.1 |
| Footwear & Wearing Apparel* | -35.3 | 20.1 |
| Beverages | - 27.4 | 19.5 |
| Electrical Machinery | - 11.9 | -10.0 |
| Basic Metals | - 16.2 | 12.8 |
| Chemicals | - 7.5 | 0.7 |
| Petroleum Products | - 5.1 | 7.6 |
| Furniture & Fixtures | - 30.5 | - 8.7 |
| Wood & Wood Products | - 10.7 | - 18.1 |
| Miscellaneous Manufactures | - 9.5 | - 10.3 |
| Paper & Paper Products | - 3.2 | 1.8 |
| Publishing and Printing | - 2.4 | -11.6 |
| Textiles | - 1.0 | - 3.2 |
Note: * - new sectors in the 1994-based series
Sectors are ranked according to their contribution to the overall 1994-based January 2002 growth rate.
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 3-A
AVERAGE CAPACITY UTILIZATION BY MAJOR SECTOR, JANUARY 2002
| Sector | January 2002 | December 2001 (revised) |
| MANUFACTURING | 74.4 | 79.1 |
| Food Manufacturing | 70.8 | 77.3 |
| Beverage | 69.8 | 74.2 |
| Tobacco | 73.3 | 80.2 |
| Textile | 79.5 | 74.9 |
| Footwear & Wearing Apparel | 74.6 | 75.2 |
| Wood & Wood Products | 69.5 | 78.5 |
| Furniture & Fixtures | 67.1 | 66.8 |
| Paper & Paper Products | 78.2 | 78.5 |
| Publishing & Printing | 81.7 | 77.8 |
| Leather Products | 45.6 | 44.5 |
| Rubber Products | 83.1 | 82.2 |
| Chemical Products | 65.7 | 69.9 |
| Petroleum Products | 81.9 | 84.2 |
| Non-Metallic Mineral Products | 80.0 | 78.1 |
| Basic Metals | 67.8 | 73.6 |
| Fabricated Metal Products | 67.6 | 65.6 |
| Machinery Excluding Electrical | 84.5 | 84.5 |
| Electrical Machinery | 80.7 | 76.3 |
| Transport Equipment | 68.5 | 67.5 |
| Miscellaneous Manufactures | 79.9 | 77.6 |
Source: National Statistics Office
Manila, Philippines
