Manufacturing in the Philippines increased by 21.3 percent in November, attributable to the improvement of several sectors which recorded three-digit growths for 2013 compared to 2012 figures.
In its Monthly Integrated Survey of Selected Industries for November released on Friday, the National Statistics Office (NSO) said that the volume of production index (Vopi), which measures manufacturing volume in the country, went up by as much as three digits for the eight major manufacturing sectors compared to the same period in 2012.
“Vopi further rose in November 2013 registering a two-digit annual growth of 21.3 percent. This was brought about by the three-digit growth experienced by chemical products [203.1 percent] and furniture and fixtures [147.3 percent],” the NSO said.
“Double-digit growths in VoPI were also recorded by six other major sectors, namely: machinery except electrical [43.4 percent], tobacco products [34.6 percent], leather products [33.5 percent], basic metals [32.9 percent], rubber and plastic products [21.4 percent], beverages [19.5 percent],” the statistical body added.
Compared from a month ago, manufacturing inched up slightly by 0.8 percent in November, because of the improvement in three major sectors.
“[The monthly growth] is explained by the better performances in production output in the following major sectors: beverages [25.3 percent], paper and paper products [12.8 percent] and chemical products [11.1 percent],” the NSO said.
Socioeconomic Planning Secretary Arsenio Balisacan said on Friday that the manufacturing sector is undergoing revival, as reflected from export gains for 2013, as announced at the same day.
Balisacan said that manufactured goods for export grew by 16.9 percent in November from year-ago levels, amounting to $3.7 billion.