Preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI) for October 1998 indicated a year-on-year decline in both production and sales in the manufacturing sector. Value of production decreased by 8.0 percent and volume of production by 15.9 percent from October 1997. Sales value and volume also dropped by 5.0 percent and 12.8 percent, respectively.
The drop in production was largely attributed to the declines in petroleum products, basic metals,and transport equipment.
Petroleum products posted year-on-year decreases of 20.5 percent in value and 18.7 percent in volume of production. Sales value and volume dropped by 12.1 percent.
The basic metals sector declined by 44.8 percent in value and 46.0 percent in volume of production. This can be attributed to the prevalent weak demand leading to a shutdown of a hotmill plant.
Transport equipment also decreased year-on-year by 26.2 percent in value of production which can be largely attributed to the economic slowdown. Volume of production also registered a decline of 38.5 percent during the period.
Non-metallic mineral products, which include cement, glass & glass products and other non-metallic mineral products, recorded a 26.7 percent drop in value and 23.0 percent drop in volume of production.
Gainers in terms of both value and volume of production were the paper & paper products and wood & wood products.
Paper & paper products posted a 37.4 percent uptick in value and 19.5 increase in volume of production. Wood & wood products increased by 10 percent in value and by 9.9 percent in volume of production
Capacity utilization (defined as the ratio of output to the maximum rated capacity of the plant) as reported by responding firm/establishments mirrored the slowdown. Results showed that 41.8 percent operated below 70 percent capacity in October 1998 compared to 31.5 percent in October 1997. Moreover 15.0 percent of the sample firms operated at full capacity (90%-100%) compared to 18.1 percent last year.
These results were based on the response of 348 sample firm/establishments which comprised 63.3 percent of the total number of sample enterprises covered by the survey.
Distribution of Key Enterprise by Capacity Utilization
(In percent)
| Capacity Utilization | 1997 | 1998 | |||||||||||
| OCT | NOV | DEC | JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | |
| Below 50 %
50 - 59 % 60 - 69 % 70 - 79 % 80 - 89 % 90 - 100 % |
8.4
9.4
13.7
22.1
28.2
18.1
|
7.4
10.4
12.0
23.1
29.3
17.8
|
9.1
9.1
15.1
21.6
27.6
17.6
|
12.7
12.0
15.9
20.8
22.5
16.1
|
12.0
11.2
18.3
19.4
22.4
16.7
|
11.1
12.1
16.6
21.7
22.1
16.4
|
12.0
12.8
14.6
24.4
21.4
14.8
|
12.8
12.6
15.4
20.4
23.5
15.4
|
13.5
9.9
15.5
21.2
23.0
17.0
|
11.4
9.4
18.4
21.0
23.4
16.4
|
12.4
10.4
17.1
21.1
23.4
15.6
|
12.6
9.7
17.1
21.0
22.9
16.8
|
9.5
13.2
19.1
22.3
20.9
15.0
|
Percentage Changes in Production and Net Sales of Key Enterprises: Jan - Oct 1998
Year-on-year Change
|
ITEM
|
JAN
|
FEB
|
MAR
|
APR
|
MAY
|
JUN
|
JUL
|
AUG
|
SEP
|
OCT
|
| Production
Value Volume Net Sales Value Volume |
9.4 r
-2.4 r
37.7
24.2
|
2.8 r
-9.0 r
35.7
21.0
|
9.4 r
-0.5 r
5.7
4.2
|
-5.5 r
-14.8 r
0.7
-9.9
|
0.3 r
-10.3 r
11.8
3.7
|
6.6 r
-5.5 r
5.0
-10.4
|
-1.5 r
-12.8 r
3.3
-5.4
|
-7.9 r
-17.1 r
-12.8
-23.3
|
-4.8 r
-13.7 r
-5.1
-16.0
|
-8.0
-15.9
-5.0
-12.8
|
Month-on-Month Change
|
ITEM
|
JAN
|
FEB
|
MAR
|
APR
|
MAY
|
JUN
|
JUL
|
AUG
|
SEP
|
OCT
|
| Production
Value Volume Net Sales Value Volume |
-0.4 r
-5.2 r
21.7
12.6
|
4.8 r
3.6 r
5.0
11.2
|
0.6 r
2.3 r
2.9
5.7
|
-11.7 r
-12.2 r
-1.1
-3.7
|
4.3 r
3.6 r
6.5
10.7
|
8.1 r
7.7 r
-2.4
-3.0
|
-3.0 r
-3.1 r
4.1
4.9
|
-3.7 r
-3.6 r
-12.5
-11.3
|
2.9 r
2.4 r
4.1
2.5
|
-0.9
-1.2
5.6
-1.1
|
r - revised due to updating of data from late responding establishments.
ANNEX 1-A
VALUE OF PRODUCTION
Year-on-year
Year-on-year decreases were observed in 8 out of 16 major sectors which added to an overall 8.0 percent dip in the value of production index (VPI). The biggest drop among the sectors was in petroleum products with a decrease of 20.5 percent. This was followed by basic metals which declined by 44.8 percent due to a shutdown of a hotmill plant. Other sectors that posted year-on-year negative performance were transport equipment (-26.2%), non-metallic mineral products (-26.7%) and beverage (-21.5%).
On the other hand, paper & paper products grew year-on-year by 37.4 percent due to increase in job orders and contributed significantly to the positive growth of this sector. This was followed by chemicals which increased by 10.0 percent due to increase in production of drugs, medicines and cosmetics and toilet products. Other sectors that posted positive growths were food manufacturing (3.9%), wearing apparel (12.6%), textile (8.0%), electrical machinery (3.4%), wood and wood products (10.0%), and tobacco (2.9%).
Month-on-month
On a month-on-month basis, the VPI decreased slightly by 0.9 percent. Seven sectors declined with petroleum products which dropped by 10.8 percent leading. Basic metals declined by 27.9 percent followed by electrical machinery which declined by 4.2 percent. Other sectors that posted decreases were textile (-8.4%), beverage (-18.2%), rubber products (-12.1%), and paper & paper products (-2.3%).
On the other hand, eight sectors posted increases led by food manufacturing with an increase of 9.7 percent. This can be attributed to increased production in bakery products. Other sectors that posted positive growths were chemicals (13.9%), wearing apparel (13.4%), wood & wood products (17.4%), and transport equipment (13.2%) which can be attributed to more job orders of cars and motorcycles this month.
VALUE OF PRODUCTION INDEX (OCTOBER 1998)
YEAR-ON-YEAR
GAINERS GROWTH (%)
October Septemberr
Paper & Paper Products 37.4 38.3
Chemicals 10.0 - 1.9
Food Manufacturing 3.9 19.0
Wearing Apparel 12.6 7.7
Textile 8.0 4.2
Electrical Machinery 3.4 6.3
Wood & Wood Products 10.0 - 8.3
Tobacco 2.9 1.7 LOSERS
Petroleum Products -20.5 13.6
Basic Metals -44.8 -21.0
Transport Equipment -26.2 -46.9
Non-Metallic Mineral Products -26.7 -34.8
Beverage -21.5 7.6
Rubber Products - 9.3 1.2
Furniture & Fixtures -23.0 -13.1
Misc. Manufactures -28.3 -16.2
MONTH-ON-MONTH
GAINERS GROWTH (%)
October Septemberr
Food Manufacturing 9.7 -10.0
Chemicals 13.9 - 4.0
Wearing Apparel 13.4 11.7
Wood & Wood Products 17.4 - 6.9
Transport Equipment 13.2 - 7.0
Tobacco 6.7 - 3.7
Misc. Manufactures 1.7 - 2.8
Non-Metallic Mineral Products 0.2 -18.2
LOSERS
Petroleum Products -10.8 13.8 Basic Metals -27.9 19.0 Electrical Machinery - 4.2 0.1 Textile - 8.4 -3.4 Beverage -18.2 2.1 Rubber Products -12.1 2.0 Paper & Paper Products - 2.3 -3.9 Furniture & Fixtures - 0.0 -3.8
Note: Sectors are ranked according to their contribution to the overall October 1998 growth rate.
r - revised due to updating of data from late responding establishments.
ANNEX 1-B
VOLUME OF PRODUCTION
Year-on-year
The volume of production index (VoPI) for manufacturing declined by 15.9 percent due to decreases in fourteen out of 16 sectors led by petroleum refineries which declined by 18.7 percent. Other sectors which largely contributed to the negative performance of the overall year-on-year VoPI were basic metals (-46.0%), food manufacturing (-9.4%), wearing apparel (-27.6%) and transport equipment (-38.5%).
On the other hand, two sectors that contributed largely to the positive component of the overall VoPI were paper & paper products (19.5%) and wood & wood products (9.9%).
Month-on-month
On a monthly basis, eight sectors showed declines leading to a 1.2 percent drop in VoPI. Petroleum refineries which posted a decline of 12.3 percent contributed largely to the decrease in the overall VoPI. Other sectors that significantly contributed to the downward pull of the overall month-on-month growth were basic metals (-26.0%), textile (-8.2%), beverage (-18.2%) and electrical machinery (-2.7%).
On the other hand, sectors that registered increases were led by food manufacturing with a 9.5 percent increase followed by chemicals (13.8%), wearing apparel (14.6%), wood & wood products (17.4%), & transport equipment (13.2%).
VOLUME OF PRODUCTION INDEX (OCTOBER 1998)
YEAR-ON-YEAR
GAINERS GROWTH (%)
October September r
Paper & Paper Products 19.5 15.9
Wood & Wood Products 9.9 -11.1
LOSERS Petroleum Refineries -18.7 16.6 Basic Metals -46.0 -29.5 Food Manufacturing - 9.4 3.2 Wearing Apparel -27.6 -35.9 Transport Equipment -38.5 -53.1 Electrical Machinery -11.8 - 8.8 Non-Metallic Mineral Products -23.0 -27.4 Beverage -26.8 0.3 Chemicals - 3.6 -15.0 Rubber Products -13.7 - 3.6 Textile - 3.2 - 7.5 Other Manufacturing -38.1 -28.5 Industries Furniture & Fixtures -26.4 -17.7 Tobacco - 2.2 - 3.4
MONTH-ON-MONTH
GAINERS GROWTH (%)
October September r
Food Manufacturing 9.5 - 9.9
Chemicals 13.8 - 4.3
Wearing Apparel 14.6 12.3
Wood & Wood Products 17.4 - 6.9
Transport Equipment 13.2 - 8.3
Other Manufacturing 3.1 - 4.1
Industries
Tobacco 6.7 - 3.7
Paper & Paper Products 0.2 - 3.9
LOSERS
Petroleum Refineries -12.3 13.3 Basic Metals -26.0 19.7 Textile - 8.2 - 4.5 Beverage -18.2 2.1 Electrical Machinery - 2.7 0.2 Non-Metallic Mineral Products - 7.1 -21.2 Rubber Products -12.2 1.9 Furniture & Fixtures - 0.0 - 3.8
Note: Sectors are ranked according to their contribution to the overall October 1998 growth rate.
r - revised due to updating of data from late responding establishments
ANNEX 2-A
VALUE OF NET SALES
Year-on-year
The value of net sales for October 1998 decreased by 5.0 percent compared to last year. Nine sectors posted decreases led by basic metals which declined by 47.0 percent. Other sectors that recorded declines were petroleum products (-12.1%), non-metallic mineral products (-63.7%), wood & wood products (-35.9%), transport equipment (-25.0%), beverages (-44.6%), paper & paper products (-18.7%), furniture & fixtures (-24.6%), and miscellaneous manufactures (-14.7%).
On the other hand, seven sectors posted growths. Electrical machinery had the biggest growth of 34.7 percent. Other sectors that posted positive growths were: food manufacturing (8.3%), textile (22.0%), chemicals (4.0%), wearing apparel (4.6%), rubber products (2.1%) and tobacco (14.2%).
Month-on-month
On a month-on-month basis, the value of net sales increased by 5.6 percent compared to the previous month.
Leading the losers was non-metallic mineral products which decreased by 50.6 percent. Other sectors with declines were basic metals (-14.0%), rubber products (-29.3%), paper & paper products (-5.1%), tobacco (-30.7%), furniture & fixtures (-7.5%), beverages (-1.4%), wood & wood products (-0.6%), and miscellaneous manufactures (-3.4%) .
On the other hand, seven sectors posted increases with food manufacturing posting the biggest uptick of 22.8 percent. Other sectors that registered increases in their net sales value were textile (44.3%), chemicals (12.7%), wearing apparel (6.3%), petroleum products (1.3%), transport equipment (4.2%), and electrical machinery (1.0%).
NET SALES VALUE (OCTOBER 1998)
YEAR-ON-YEAR
GAINERS GROWTH (%)
October September
Electrical Machinery 34.7 37.7
Food Manufacturing 8.3 - 2.0
Textile 22.0 8.0
Chemicals 4.0 -15.3
Wearing Apparel 4.6 14.4
Rubber Products 2.1 2.1
Tobacco 14.2 -19.4
LOSERS
Basic Metals -47.0 -11.0 Petroleum Products -12.1 -24.3 Non-Metallic Mineral Products -63.7 -23.8 Wood & Wood Products -35.9 42.0 Transport Equipment -25.0 -60.1 Beverages -44.6 - 1.4 Paper & Paper Products -18.7 -30.5 Furniture & Fixtures -24.6 - 2.9 Misc. Manufactures -14.7 35.3
MONTH-ON-MONTH
GAINERS GROWTH (%)
October September
Food Manufacturing 22.8 6.6
Textile 44.3 2.1
Chemicals 12.7 -18.1
Wearing Apparel 6.3 - 4.3
Petroleum Products 1.3 -37.7
Transport Equipment 4.2 -16.4
Electrical Machinery 1.0 12.9
LOSERS
Non-Metallic Mineral Products -50.6 0.9 Basic Metals -14.0 -24.1 Rubber Products -29.3 35.7 Paper & Paper Products - 5.1 3.9 Tobacco -30.7 -23.6 Furniture & Fixtures - 7.5 77.7 Beverages - 1.4 9.8 Wood & Wood Products - 0.6 -28.8 Miscellaneous Manufactures - 3.4 0.7
Note: Sectors are ranked according to their contribution to the overall October 1998 growth rate.
ANNEX 2-B
VOLUME OF NET SALES
Year-on-Year
The volume of net sales for October 1998 posted a decline of 12.8 percent over the same month last year. Decreases were noted in thirteen sectors led by food manufacturing which decreased by 14.6 percent. This was followed by transport equipment (-66.7%), petroleum products (-12.1%), chemicals (-26.0%), wearing apparel (-26.4%), paper & paper products (-39.5%), basic metals (-13.5%), non-metallic mineral products (-21.5%), beverages (-8.1%), textile (-3.2%), furniture & fixtures (-24.6%), tobacco (-23.4%), and rubber products (-2.8%).
On the other hand, increases were posted by the following sectors: electrical machinery (17.4%), wood & wood products (41.8%), and miscellaneous manufactures (16.7%).
Month-on-Month
On a month-on-month basis, the volume of net sales declined by 1.1 percent over the previous month. Chemicals led the sectors which posted a decrease of 18.1 percent. Other sectors recording decreases were basic metals (-21.8%), wood and wood products (-28.8%), transport equipment (-16.4%), wearing apparel (-3.2%), non-metallic mineral products (-3.4%), tobacco (-23.6%), and furniture and fixtures (-7.5%).
On the other hand, sectors that posted increases were electrical machinery (14.6%), food manufacturing (6.5%), rubber products (35.4%), petroleum products (1.3%), paper & paper products (6.4%), beverages (9.8%), textile (2.2%) and miscellaneous manufactures (2.1%).
NET SALES VOLUME (OCTOBER 1998)
YEAR-ON-YEAR
GAINERS GROWTH (%)
October September
Electrical Machinery 17.4 18.1
Wood & Wood Products 41.8 37.6
Miscellaneous Manufactures 16.7 15.4
LOSERS
Food Manufacturing -14.6 -23.7 Transport Equipment -66.7 -66.0 Petroleum Products -12.1 -23.7 Chemicals -26.0 -27.0 Wearing Apparel -26.4 -31.9 Paper & Paper products -39.5 -41.8 Basic Metals -13.5 -17.7 Non-metallic Minerals -21.5 -20.6 Beverages - 8.1 - 8.1 Textile - 3.2 - 4.2 Furniture & Fixtures -24.6 - 8.0 Tobacco -23.4 -23.4 Rubber Products -2.8 -2.6
MONTH-ON-MONTH
GAINERS GROWTH (%)
October September
Electrical Machinery 14.6 12.9
Food Manufacturing 6.5 6.7
Rubber Products 35.4 35.5
Petroleum Products 1.3 19.5
Paper & Paper products 6.4 3.9
Beverages 9.8 9.8
Textile 2.2 0.9
Misc. Manufactures 2.1 -0.6 LOSERS
Chemicals -18.1 -18.5 Basic Metals -21.8 -24.1 Wood & Wood Products -28.8 -28.8 Transport Equipment -16.4 -17.5 Wearing Apparel - 3.2 - 3.8 Non-Metallic Mineral Products - 3.4 - 0.1 Tobacco -23.6 -23.6 Furniture & Fixtures - 7.5 77.7
Note: Sectors are ranked according to their contribution to the overall September 1998 growth rate.
Source: National Statistics Office
