PRODUCTION

Value of Production showed an increasing trend

The Value of Production Index (VaPI) for manufacturing further grew in November 2021 with an annual growth rate of 26.5 percent, from its previous month’s annual increase of 25.9 percent. In contrast, the recorded annual growth rate for VaPI in November 2020 was -25.4 percent.  (Tables A and 1)

The growth in VaPI for November 2021 was because of the increases in 15 of the 22 industry divisions. Among these, the top contributor was manufacture of coke and refined petroleum products with 123.4 percent annual growth rate. On the other hand, the remaining seven industry divisions recorded decreases with manufacture of tobacco products, registering the fastest annual decline of -19.8 percent.  (Tables 1-A and 1)

Volume of Production Index accelerated further

The Volume of Production Index (VoPI) continued to accelerate at an annual rate of 25.3 percent in November 2021 compared with the 25.2 percent annual increase registered in the previous month. In November 2020, VoPI dropped at an annual rate of -21.8 percent.  (Tables A and 2)

The increase in VoPI was brought about by the positive growth rates of 12 industry divisions. Of these, growth in manufacture of coke and refined petroleum products, and manufacture of wood, bamboo, cane, rattan articles and related products were the major contributing factors with 84.8 percent and 83.9 percent growth rates, respectively.  On the contrary, the remaining 10 industry divisions recorded decreases which was led by the manufacture of tobacco products with -20.4 percent annual growth rate.  (Tables 1-B and 2)

NET SALES

Value of Net Sales Index continued to increase

The Value of Net Sales Index (VaNSI) also continued to gain at an annual rate of 25.0 percent in November 2021, from a growth rate of 14.1 percent in the previous month. In November 2020, VaNSI dropped at an annual rate of -22.6 percent.  (Tables A and 3)

Of the 22 industry divisions, 13 reported positive growth rates which is led by manufacture of coke and refined petroleum products that registered an annual increase of 68.3 percent. Meanwhile, nine industry divisions showed downturns in November 2021 with manufacture of wearing apparel registering the lowest rate of -28.8 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 23.9 percent in November 2021, from a 14.0 percent increase in the previous month. In November 2020, VoNSI dropped by -18.9 percent.  (Tables A and 4)

The increase in VoNSI was brought about by the positive growth rates of 12 industry divisions led by computer, electronic and optical products with 68.1 percent annual growth.  In contrast, 10 industry divisions exhibited decreases during the period, led by the manufacture of wearing apparel at -28.2 percent.  (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 manufacturing sector in November 2021 was reported at 67.4 percent, from 67.2 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 (88.3%), manufacture of other non-metallic mineral products (81.8%), and manufacture of tobacco products (77.0%).  (Table 6)

Responding establishments that operated at full capacity was 26.0 percent

The proportion of establishments that operated at full capacity (90% to 100%) was 26.0 percent of the total number of responding establishments. Meanwhile, 37.2 percent operated at 70 to 89 percent capacity, while 36.8 percent operated below 70 percent capacity.  (Table B)

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

 

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

 

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

 

 

 

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

 

 

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