PRODUCTION

Value of Production sustained three-digit growth

The Value of Production Index (VaPI) for manufacturing posted a three-digit annual rate of 122.7 percent in September 2021. This increment was slower than the 527.3 percent increase registered in the previous month. In contrast, the annual growth rate for VaPI in September 2020 was recorded at -59.0 percent.  (Tables A and 1)

The growth in VaPI for September 2021 was contributed by the increases in 13 of the 22 industry divisions that registered positive annual growth rates. Among these, the top contributor was manufacture of coke and refined petroleum products with 890.1 percent annual growth rate. On the other hand, the remaining nine industry divisions recorded decreases with manufacture of tobacco products registering the fastest annual decline of -52.6 percent.  (Tables 1-A and 1)

Volume of Production Index likewise grew at a slower pace

The Volume of Production Index (VoPI) posted a positive annual rate of 124.0 percent in September 2021. This is slower than the 533.6 percent increase registered in the previous month. In September 2020, VoPI dropped at an annual rate of -56.7 percent.  (Tables A and 2)

The increase in VoPI was brought about by the positive growth rates of 13 industry divisions. Of these, manufacture of coke and refined petroleum products was the major contributing factor with 739.7 percent growth.  On the contrary, the remaining nine industry divisions recorded decreases led by manufacture of tobacco products with -52.8 percent annual rate.  (Tables 1-B and 2)

NET SALES

Value of Net Sales Index further gained

The Value of Net Sales Index (VaNSI) accelerated at a faster rate of 7.6 percent in September 2021 compared with the 6.8 percent annual growth rate in the previous month. In September 2020, VaNSI dropped at an annual rate of -14.5 percent.  (Tables A and 3)

Of the 22 industry divisions, 12 reported positive growths led by manufacture of coke and refined petroleum products which registered an annual increase of 60.7 percent. Meanwhile, 10 industry divisions showed downturns in September 2021 with printing and reproduction of recorded media registering the lowest rate of -31.6 percent.  (Tables 2-A and 3)

Volume of Net Sales Index also exhibited growth

The Volume of Net Sales Index (VoNSI) recorded a year-on-year increase of 8.2 percent in September 2021, from a 7.9 percent increase in the previous month. In September 2020, VoNSI dropped by -9.7 percent.  (Tables A and 4)

The increase in VoNSI was brought about by the positive growth rates of 13 industry divisions. Of these, manufacture of fabricated metal products except machinery and equipment contributed 57.6 percent growth.  In contrast, the remaining nine industry divisions exhibited decreases during the period, led by printing and reproduction of recorded media with -30.6 percent decrease.  (Tables 2-B and 4)

CAPACITY UTILIZATION

Average capacity utilization rate for manufacturing slightly increased

Based on responding establishments, the average capacity utilization rate for the manufacturing sector in September 2021 improved to 66.5 percent, from 66.2 percent in the previous month.

There were 20 out of 22 industry divisions with more than 50 percent average capacity utilization rate, led by manufacture of furniture (85.0%), manufacture of other non-metallic mineral products (81.0%), and manufacture of tobacco products (79.0%).  (Table 6)

Less than one-fourth of the responding establishments operated at full capacity

The proportion of establishments that operated at full capacity (90% to 100%) was 23.1 percent of the total number of responding establishments. Meanwhile, 38.5 percent operated at 70 to 89 percent capacity, while 38.4 percent operated below 70 percent capacity.  (Table B)

TABLE 1-B.   Year-on-Year Growth Rate (%) of Volume of Production Index
by Industry Division: August 2021^r and September 2021^p
(2018 = 100)

 

TABLE 2-A.   Year-on-Year Growth Rate (%) of Value of Net Sales Index
by Industry Division: August 2021^r and September 2021^p
(2018 = 100)

 

TABLE 2-B.   Year-on-Year Growth Rate (%) of Volume of Net Sales Index
by Industry Division: August 2021^r and September 2021^p
(2018 = 100)

 

 

 

DENNIS S. MAPA, Ph. D.
Undersecretary
National Statistician and Civil Registrar General

 

 

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