PRODUCTION

Value of Production sustained positive growth

The Value of Production Index (VaPI) registered a slower increment of 9.7 percent in April 2022, from an annual growth rate of 375.1 percent in the previous month. In April 2021, the VaPI grew at an annual rate of 150.1 percent.  (Tables A and 1)

Of the 22 industry divisions, 16 reported positive growths which was led by manufacture of textiles with 51.1 percent annual growth rate. On the contrary, the remaining six industry divisions recorded annual decreases in their production. The manufacture of electrical equipment had the fastest annual drop of -25.4 percent.  (Tables B.1 and 1)

Volume of Production Index likewise increased

The Volume of Production Index (VoPI) continued to exhibit a year-on-year growth rate of 3.4 percent in April 2022. This annual rate, however, was slower than the 352.3 percent increase recorded in the previous month. In April 2021, VoPI accelerated with an annual rate of 157.8 percent.  (Tables A and 2)

The upturn in VoPI was brought about by the expansions in production of 14 industry divisions. Of these, manufacture of textiles was the major contributing factor with 45.6 percent annual growth rate.

Meanwhile, eight industry divisions showed downturns in April 2022 with manufacture of electrical equipment registering the highest annual decline of -28.1 percent.  (Tables B.2 and 2)

NET SALES

Value of Net Sales Index accelerated at a slower pace

The Value of Net Sales Index (VaNSI) remained at an upward trend but posted a slower annual rate of 20.1 percent in April 2022, compared with the increase of 21.2 percent in March 2022. In April 2021, VaNSI upsurged with an annual rate of 180.5 percent.  (Tables A and 3)

The growth in VaNSI was attributed to the positive growth rates of 15 industry divisions. Among these, manufacture of coke and refined petroleum products exhibited the highest annual growth with 118.4 percent in April 2022. On the other hand, the remaining seven industry divisions recorded decrements in their sales with manufacture of fabricated metal products, except machinery and equipment registering the fastest annual decrease of -16.9 percent.  (Tables C.1 and 3)

Volume of Net Sales Index also posted double-digit increments

The Volume of Net Sales Index (VoNSI), likewise, gained an annual rate of 13.3 percent in April 2022, compared with the previous month’s annual rate of 15.4 percent. In April 2021, VoNSI accelerated with an annual rate of 189.1 percent.  (Tables A and 4)

The increase in VoNSI for April 2022 was contributed by the upturns in sales of 15 of the 22 industry divisions. Among these, the top contributor was manufacture of coke and refined petroleum products with 82.5 percent annual growth rate. On the contrary, seven industry divisions exhibited declines during the period. The manufacture of fabricated metal products, except machinery and equipment had the lowest annual rate of -22.6 percent.  (Tables C.2 and 4)

CAPACITY UTILIZATION

Average capacity utilization rate for manufacturing slightly decreased

Based on responding establishments, the average capacity utilization rate for manufacturing sector in April 2022 was reported at 69.2 percent, from 70.9 percent in the previous month.

There were 18 out of 22 industry divisions with more than 60 percent average capacity utilization rate, led by manufacture of furniture (79.2%), manufacture of other non-metallic mineral products (79.0%), and manufacture of wearing apparel (77.8%).  (Table 6)

More than one-fifth of responding establishments operated at full capacity

The proportion of establishments that operated at full capacity (90% to 100%) was 21.7 percent of the total number of responding establishments. Meanwhile, 39.7 percent operated at 70 to 89 percent capacity, while 38.6 percent operated below 70 percent capacity.  (Table D)