Introduction
These results were based on the interim Monthly Integrated Survey of Selected Industries (MISSI) of the National Statistics Office with the Department of Trade and Industry which will eventually provide flash indicators on the performance of industrial enterprises such as production, sales, employment, compensation, inventory of raw materials and finished products, and capacity utilization. The MISSI is a key feature arising from a Memorandum of Understanding (MOU) forged between the two offices along with the National Statistical Coordination Board, the Federation of Philippine Industries and the Philippine Chamber of Commerce and Industry.
This interim survey will only cover the value and volume of production and sales in the manufacturing sector while the MISSI questionnaire is being finalized. The results were based on a sample of about 500 firms/establishments throughout the country, supplemented with exports data from Garments and Textile Export Board (GTEB) and data from the Philippine Cement Corporation (PHILCEMCOR).
Executive Summary
The interim survey results for March 1998 indicated that the value of production posted a 7.2 percent increase over March last year. This is compared to the 0.1 percent increase in February 1998. Meanwhile, the volume of production eased up to a 1.7 percent decline from a bigger decrease of 11.2 percent a month earlier. The value of net sales slowed down to 5.7 percent year-on-year compared to the 35.7 percent a month earlier and the volume of net sales to 4.2 percent from 21.0 percent.
On a month-on-month basis, the value of production increased by 1.2 percent and the corresponding volume of production by 3.7 percent. The value of net sales increased by 2.9 percent over February 1998 and the volume of net sales by 5.7 percent.
Some positive developments include the increased local demand in sectors such as chemicals and paper and paper products; rising work mandays and exports in sectors like microcircuits and wearing apparel; and increased availability of raw materials in food sectors such as processed fish and vegetable and animal oils. On the other hand, the dip in production was attributed to, among others, low demand in sectors such as basic metals and transport equipment and to higher operating costs experienced by some firms.
|
Item |
JAN '98 |
FEB '98 |
MAR '98 |
|
Year-on-Year Change |
9.2r 37.7 |
0.1r 35.7 |
7.2 5.7 |
|
Month-on-Month Change |
0.1r 21.7 |
2.2r 5.0 |
1.2 2.9 |
r - revised due to updating of late responding establishments.
ANNEX 1-A
VALUE OF PRODUCTION
Year-on-year
Year-on-year increases were observed in 12 out of 16 major sectors and this resulted in a 7.2 percent increase in March 1998 value of production index (VPI). Electrical machinery led the sector with a growth of 48.9 percent, resulting mainly from the gains in microcircuits and electrical appliances. Chemicals followed with an increase of 25.8 percent; food, 10.7 percent; wearing apparel, 34.2 percent; and paper and paper products, 34.8 percent.
On the other hand basic metals and transport equipment dropped by 22.2 percent and 35.3 percent, respectively.
Month-on-month
On a month-on-month basis, the VPI moved up by 1.2 percent in March as food registered an increase of 10.6 percent contributing significantly to the overall performance. Other sectors that posted significant increases were chemicals (6.0%), non-metallic mineral products (12.0%), electrical machinery (2.9%), beverage (13.2%), and paper and paper products (5.7%).
On the other hand, basic metals decreased by 22.3 percent followed by wearing apparel, which dropped by 9.1 percent.
VALUE OF PRODUCTION INDEX 1998
YEAR-ON-YEAR
GAINERS GROWTH (%)
March February
Electrical Machinery 48.9 31.5
Chemicals 25.8 21.6
Food Manufacturing 10.7 -6.9
Wearing Apparel 34.2 53.8
Paper & Paper Products 34.8 8.6
Beverage 31.9 11.3
Wood & Wood Products 11.5 9.3
Furniture & Fixtures 32.1 24.1
Textile 3.2 -4.6
Rubber Products 6.7 -6.2
Miscellaneous 11.6 27.2
Manufactures
Tobacco 25.0 4.5
LOSERS
Basic Metals -22.2 23.4
Transport Equipment -35.3 -39.3
Petroleum Products -3.7 -9.2
Non-Metallic Mineral -5.3 -17.4
Products
MONTH-ON-MONTH
GAINERS GROWTH (%)
March February
Food Manufacturing 10.6 -9.0
Chemicals 6.0 0.0
Non-Metallic Mineral 12.0 -7.2
Products
Electrical Machinery 2.9 3.9
Beverage 13.2 -22.4
Paper & Paper Products 5.7 -7.8
Rubber Products 5.2 22.2
Wood & Wood Products 1.5 82.7
Furniture & Fixtures 5.3 -1.5
Tobacco 9.3 -10.0
Miscellaneous 3.4 3.2
Manufactures
LOSERS
Basic Metals -22.3 26.5
Wearing Apparel -9.1 8.2
Transport Equipment -3.5 17.6
Petroleum Products -0.2 -17.0
Textile -0.3 31.1
Note: Sectors are ranked according to their contribution to the overall March 1998 growth rate.
ANNEX 1-B
VOLUME OF PRODUCTION
Year-on-year
The volume of production index (VoPI) for manufacturing of 145.8 in March 1998 declined by 1.7 percent over the VoPI of 148.3 a year ago. Basic metals registered the biggest decrease of 41.4 percent. Other sectors that posted significant decreases were transport equipment (34.6%), wearing apparel (15.1%), and food (3.1%).
On the other hand, electrical machinery registered the biggest increase of 37.5 percent, followed by chemicals (12.5%), paper & paper products (19.6%), and beverage (19.3%).
Month-on-month
On a month-on-month basis, the VoPI increased by 3.7 percent largely due to the 10.5 percent increase in food manufacturing. Other sectors that posted increases were petroleum refineries, 9.5 percent; electrical machinery, 7.6 percent; and chemicals, 6.1 percent.
On the other hand, basic metals declined by 23.0 percent followed by wearing apparel, which decreased by 8.7 percent.
VOLUME OF PRODUCTION INDEX 1998
YEAR-ON-YEAR
GAINERS GROWTH (%)
March February
Electrical Machinery 37.5 14.0
Chemicals 12.5 7.1
Paper & Paper Products 19.6 -6.5
Beverage 19.3 6.6
Non-Metallic Mineral 6.9 -5.7
Products
Furniture and Fixtures 24.4 16.9
Rubber Products 3.0 -5.6
Tobacco 19.7 0.4
LOSERS
Basic Metals -41.4 -5.6
Transport Equipment -34.6 -44.3
Wearing Apparel -15.1 -0.6
Food Manufacturing -3.1 -18.4
Textile -4.3 -10.6
Petroleum Refineries -0.9 -20.9
Wood & Wood Products -3.2 -8.3
Other Manufacturing -2.8 8.7
Industries
MONTH-ON-MONTH
GAINERS GROWTH (%)
March February
Food Manufacturing 10.5 -9.1
Petroleum Refineries 9.5 -17.0
Electrical Machinery 7.6 1.3
Chemicals 6.1 -4.0
Non-Metallic Mineral 9.6 -7.0
Products
Transport Equipment 6.4 16.5
Beverage 11.8 -22.4
Paper & Paper Products 4.4 -4.0
Wood & Wood Products 2.0 82.7
Furniture & Fixtures 5.3 -1.5
Other Manufacturing 4.1 0.6
Industries
Tobacco 9.3 -10.0
Rubber Products 1.0 22.3
LOSERS
Basic Metals -23.0 17.6
Wearing Apparel -8.7 10.0
Textile -2.4 29.0
Note: Sectors are ranked according to their contribution to the overall March 1998 growth rate.
ANNEX 2-A
VALUE OF NET SALES
Year-on-year
The value of net sales for March 1998 posted a 5.7 percent increase over the same month last year with the 51.1 percent increase in wearing apparel contributing significantly to the growth. Chemicals followed with 27.1 percent; paper & paper products, 49.1 percent; petroleum products, 5.9 percent; beverage, 35.3 percent; and electrical machinery, 4.6 percent.
On the other hand, basic metals registered the biggest drop at -32.8 percent. Other sectors that posted decreases were food, -11.0 percent; wood & wood products, -24.9 percent; transport equipment, -13.4 percent; and non-metallic mineral products, -12.8 percent.
Month-on-month
On a month-on-month basis, the value of net sales registered a 2.9 percent increase compared to the previous month. Textile significantly contributed to the overall growth with an increase of 33.7 percent. Chemicals followed with 17.2 percent; petroleum products, 6.3 percent; beverage, 17.0 percent; paper and paper products, 7.3 percent; and non-metallic mineral products, 5.3 percent.
On the other hand, sectors that exhibited significant declines in net sales value were electrical machinery, -20.4 percent; basic metals, -27.9 percent; and food, -7.8 percent.
NET SALES VALUE 1998
YEAR-ON-YEAR
GAINERS GROWTH (%)
March February
Wearing Apparel 51.1 53.5
Chemicals 27.1 160.0
Paper & Paper Products 49.1 34.3
Petroleum Products 5.9 8.1
Beverage 35.3 14.8
Electrical Machinery 4.6 78.0
Furniture & Fixtures 37.4 29.3
Miscellaneous 40.9 13.5
Manufactures
Tobacco 62.2 5.6
LOSERS
Basic Metals -32.8 11.9
Food Manufacturing -11.0 35.4
Wood & Wood Products -24.9 -23.6
Transport Equipment -13.4 -1.9
Non-metallic Mineral -12.8 -17.8
Products
Textile -6.6 -10.5
Rubber Products -8.8 -32.1
MONTH-ON-MONTH
GAINERS GROWTH (%)
March February
Textile 33.7 43.0
Chemicals 17.2 37.8
Petroleum Products 6.3 -13.6
Beverage 17.0 -8.7
Paper & Paper Products 7.3 -7.9
Non-metallic Mineral 5.3 -12.9
Products
Tobacco 44.4 -18.5
Miscellaneous 10.3 0.6
Manufactures
Wood & Wood Products 1.2 32.0
Rubber Products 2.8 -17.1
LOSERS
Electrical Machinery -20.4 10.6
Basic Metals -27.9 44.8
Food Manufacturing -7.8 -10.1
Transport Equipment -18.6 3.0
Wearing Apparel -7.6 -7.9
Furniture & Fixtures -18.8 2.2
Note: Sectors are ranked according to their contribution to the overall March 1998 growth rate.
ANNEX 2-B
VOLUME OF NET SALES
Year-on-year
Net sales volume in March 1998 posted a 4.2 percent increase over the same month last year. Wearing apparel contributed significantly to the overall growth with a 51.1 percent increase followed by wood and wood products with a 73.7 percent growth. Other sectors that registered significant increases were electrical machinery, 24.3 percent; chemicals, 25.0 percent; paper and paper products, 29.9 percent; and beverage, 35.3 percent.
On the other hand, six sectors posted decreases. Petroleum products declined by 16.9 percent; food manufacturing dipped by 10.9 percent; and transport equipment decreased by 39.1 percent.
Month-on-month
On a month-on-month basis, net sales volume in March 1998 increased by 5.7 percent over the previous month. Twelve sectors registered increases with petroleum products contributing significantly to the overall performance with a 12.0 percent increase. Textile followed with a 40.1 percent increase; chemicals, 18.1 percent; electrical machinery, 7.1 percent; wood and wood products, 16.8 percent; non-metallic mineral products, 12.2 percent; beverage, 18.2 percent; paper and paper products, 7.3 percent; and rubber products, 18.5 percent.
On the other hand, basic metals had the biggest decline of 42.7 percent. Other sectors that posted decreases were food manufacturing, -11.5 percent; transport equipment, -20.5 percent; and wearing apparel, -7.6 percent.
NET SALES VOLUME 1998
YEAR-ON-YEAR
GAINERS GROWTH (%)
March February
Wearing Apparel 51.1 53.5
Wood & Wood Products 73.7 22.6
Electrical Machinery 24.3 -6.0
Chemicals 25.0 159.6
Paper & Paper Products 29.9 21.9
Beverage 35.3 14.8
Miscellaneous 55.1 25.1
Manufactures
Rubber Products 7.6 -26.1
Furniture & Fixtures 14.7 7.1
Tobacco 20.8 -4.4
LOSERS
Petroleum Products -16.9 -12.5
Food Manufacturing -10.9 36.5
Transport Equipment -39.1 -30.6
Basic Metals -6.7 -0.4
Textile -8.7 -26.3
Non-metallic Mineral -3.7 -13.2
Products
MONTH-ON-MONTH
GAINERS GROWTH
March February
Petroleum Products 12.0 26.1
Textile 40.1 50.7
Chemicals 18.1 32.6
Electrical Machinery 7.1 9.3
Wood & Wood Products 16.8 51.6
Non-metallic Mineral 12.2 -9.5
Products
Beverage 18.2 -9.2
Paper & Paper Products 7.3 -1.6
Rubber Products 18.5 -10.6
Tobacco 52.8 -14.5
Miscellaneous 10.3 27.6
Manufactures
Furniture & Fixtures 2.5 -1.3
LOSERS
Basic Metals -42.7 13.6
Food Manufacturing -11.5 -9.2
Transport Equipment -20.5 -18.9
Wearing Apparel -7.6 -4.8
Note: Sectors are ranked according to their contribution to the overall March 1998 growth rate.
Source: National Statistics Office
