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Release Date :
Reference Number :
2021-509

 

PRODUCTION

Value of Production registered slower increment

The Value of Production Index (VaPI) for manufacturing continued to increase but at a slower rate of 24.8 percent in October 2021 compared with its three-digit annual rate of 122.5 percent in the previous month. In contrast, the annual growth rate for VaPI in October 2020 was recorded at -28.9 percent.  (Tables A and 1)

The growth in VaPI for October 2021 was contributed by the increases in 14 of the 22 industry divisions. Among these, the top contributor was manufacture of fabricated metal products except machinery and equipment with 176.4 percent annual growth rate. On the other hand, the remaining eight industry divisions recorded decreases with manufacture of tobacco products registering the fastest annual decline of -58.2 percent.  (Tables 1-A and 1)

Volume of Production Index also slowed down

Similar to VaPI, the Volume of Production Index (VoPI) posted a positive annual rate of 24.7 percent in October 2021. This is much slower than the 123.1 percent increase registered in the previous month. In October 2020, VoPI dropped at an annual rate of -25.4 percent.  (Tables A and 2)

The increase in VoPI was brought about by the positive growth rates of 14 industry divisions. Of these, manufacture of fabricated metal products was the major contributing factor with 176.6 percent growth. On the contrary, the remaining eight industry divisions recorded decreases which was led by manufacture of tobacco products with -58.6 percent annual rate.  (Tables 1-B and 2)

 

 

 

NET SALES

Value of Net Sales Index attained a two-digit growth

The Value of Net Sales Index (VaNSI) accelerated at a faster rate of 13.9 percent in October 2021 compared with the 7.1 percent annual growth rate in the previous month. In October 2020, VaNSI dropped at an annual rate of -22.1 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 85.9 percent. Meanwhile, 10 industry divisions showed downturns in October 2021 with printing and reproduction of recorded media registering the lowest rate of -24.5 percent.  (Tables 2-A and 3)

Volume of Net Sales Index likewise expanded

The Volume of Net Sales Index (VoNSI) also recorded a faster year-on-year increase of 13.8 percent in October 2021, from a 7.4 percent increase in the previous month. In October 2020, VoNSI dropped by -18.3 percent.  (Tables A and 4)

The increase in VoNSI was brought about by the positive growth rates of nine industry divisions. Of these, manufacture of coke and refined petroleum products contributed the highest with 55.4 percent growth. In contrast, the other 13 industry divisions exhibited decreases during the period, with manufacture of wearing apparel as the lowest with -23.6 percent rate.  (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 October 2021 was slightly higher at 67.0 percent, from 66.6 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 other non-metallic mineral products (81.1%), followed by manufacture of electrical equipment (77.3%), and manufacture of furniture (76.5%).  (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 20.5 percent of the total number of responding establishments. Meanwhile, 37.4 percent operated at 70 to 89 percent capacity, while 42.1 percent operated below 70 percent capacity.  (Table B)

 

 

 

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

 

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

 

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

 

 

 

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

 

 

See more at the Monthly Integrated Survey of Selected Industries (MISSI) landing page.

 

 

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