- Production continues with double-digit year-on-year increases
Production output of the manufacturing industry in June 2001 registered an increase of 18.2 percent in value and 11.3 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 production volume of the manufacturing industry were food manufacturing (24.9%), basic metals (51.5%), petroleum products (16.7%) and electrical machinery (26.8%).
- Value and Volume of net sales move up
The value and volume of net sales in June 2001 grew by 14.2 percent and 5.4 percent, respectively. Electrical machinery gained 13.0 percent in net sales value from a negative growth of 24.3 percent during the previous month. In terms of net sales volume, sectors that made a turn around after posting negative growths during the previous month were electrical machinery (2.1%), basic metals (0.5%) and transport equipment (6.1%).
- Value of Production Index (1985=100)
In June 2001, the value of production index (VaPI) of 745.7 increased by 18.2 percent from 630.9 in June 2000. Year-on-year increases were observed in 11 out of 16 major sectors led by food manufacturing, which increased by 24.9 percent (see Annex 1-A). This can be attributed to the increased production of animal feeds which experienced increased demand in the domestic market and high demand for processed fish in the export market. Other sectors that posted double-digit increases were basic metals (51.5%), petroleum products (16.7%), electrical machinery (26.8%), textile (29.3%), non-metallic mineral products (31.4%), wearing apparel (14.9%), tobacco (21.1%) and miscellaneous manufactures (36.8%). Value of production of transport equipment registered an increase of 0.3 percent from a decline posted over the previous month.
On the other hand, double-digit decreases were observed in wood and wood products (-18.8%), paper and paper products (-13.9%) and rubber products (-13.4%). Furniture and fixtures declined by 15.5 percent from a 1.5 percent increase during the previous month.
- Volume of Production Index (1992=100)
The volume of production index (VoPI) for total manufacturing of 185.4 increased by 11.3 percent from 166.8 of the same month last year. Seven out of 16 sectors posted year-on-year increases (see Annex 1-B). Food manufacturing posted the biggest increase of 28.9 percent. Other sectors that posted double-digit increases were basic metals (35.9%), textile (30.6%), electrical machinery (14.5%) and non-metallic mineral products (20.0%).
On the other hand, double-digit decreases were observed in wearing apparel (-28.6%), paper and paper products (-21.8%), wood and wood products (-19.3%), rubber products (-13.6%), furniture and fixtures (-17.4%) and miscellaneous manufactures (-15.2%)
- Value of Net Sales (1985=100)
The value of net sales for June 2001 increased by 14.2 percent over the same month last year. Eleven major sectors posted growths in their value of net sales led by petroleum products which increased by 20.7 percent over the same month last year (see Annex 2-A). Other sectors that exhibited double-digit year-on-year increases were food manufacturing (18.8%), textile (52.0%), chemicals (16.2%), electrical machinery (13.0%), transport equipment (11.9%), beverages (22.1%), miscellaneous manufactures (13.5%) and tobacco (24.8%).
On the other hand, double-digit decreases were exhibited by non-metallic mineral products (-10.2%) and rubber products (-16.0%).
- Volume of Net Sales (1992=100)
Volume of net sales posted a growth of 5.4 percent over the same month last year. Increases were observed in 8 out of 16 sectors led by food manufacturing which increased by 22.0 percent (see Annex 2-B). Other sectors that posted double-digit increases were textile (53.5%), beverages (23.8%) and tobacco (11.2%).
On the other hand, the eight remaining sectors posted negative growths led by wearing apparel which declined by 31.5 percent. Other sectors that registered double-digit decreases were paper and paper products (-17.9%), non-metallic mineral products (-15.6%), rubber products (-16.2%) and miscellaneous manufactures (-29.6%).
- Producer's Price Index (1992=100)
Producer price index (PPI) for total manufacturing increased by 6.3 percent to 156.6 in June 2001 from 147.3 in June 2000. On a month-on-month basis, PPI slightly decreased by 0.2 percent.
Double-digit year-on-year increases were observed in the following sectors: other manufacturing manufactures (61.2%), wearing apparel (57.60%), glass and glass products (22.5%), petroleum products (20.7%), fabricated metal products (18.1%), cement (14.3%), tobacco (12.2%), printing and publishing (11.6%), electrical machinery (10.7%) and pulp, paper and paperboard (10.0%).
- Capacity Utilization
The proportion of responding establishments that operated at full capacity (90%-100%) in June 2001 was 20.4, lower than 1 percentage point from that reported in June 2000 (Annex 3-A). About 40.6 percent of the responding establishments operated at 70%-89% capacity. Those operating below 70% capacity utilization accounted for 38.8 percent, higher by 6.3 percentage points compared to year ago figures.
Average capacity utilization rate for June 2001 for total manufacturing was estimated at 78.9%, 2.3 percentage points lower than the 81.2% posted in June 2000 (see Annex 3-B). Of the 16 sectors, 7 sectors posted more than 80% capacity utilization rates. Electrical machinery reported the highest capacity utilization rate of 86.9%. Other sectors with more than 80% capacity utilization rates were furniture and fixtures (85.8%), petroleum products (84.6%), tobacco (84.0%), beverage (83.3%), chemicals (82.3%) and rubber products (80.8%). Basic metals on the other hand, posted the lowest capacity utilization rate of 70.4%.
- Response Rate
These results were based on the response of 448 sample establishments, which comprised 86.3 percent of the total number of manufacturing establishments covered by the survey.
Source: National Statistics Office
Manila, Philippines
