Manufacturing activity in Philippine sees growth
Preliminary findings from the Monthly Integrated Survey of Selected Industries showed that the value of production index (VaPI) rose by 4.5 percent compared to the same month last year, while the volume of production index (VoPI) increased by 4.9 percent year-on-year.
The 4.5 percent rise in VaPI represents a slight improvement from April’s 4.3 percent growth. A year earlier, in May 2024, VaPI had grown by 3.3 percent.
The increase was largely driven by a quicker expansion in food manufacturing, which saw a 16.4 percent growth in May, up from 11.9 percent the previous month. The food industry alone accounted for 37.1 percent of the total growth in VaPI, making it the most significant contributor among the 22 tracked manufacturing sectors.
Other notable factors included a smaller yearly decrease in chemical and chemical product manufacturing—down 13.0 percent in May, an improvement from April’s 23.3 percent decline—as well as stronger output in the transport equipment sector, which expanded by 12.6 percent after rising 8.0 percent a month earlier.
Out of the remaining 19 industry divisions, 11 experienced year-on-year declines in VaPI, while eight reported gains.
Leading the growth in overall VaPI for May were the food products, transport equipment, and computer, electronic, and optical products sectors.
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