MANILA, July 8 (Xinhua) -- Manufacturing output in the Philippines rose in May, according to data released Tuesday by the Philippine Statistics Authority (PSA).
Based on preliminary results from the Monthly Integrated Survey of Selected Industries, the value of production index (VaPI) increased by 4.5 percent year-on-year, while the volume of production index (VoPI) rose by 4.9 percent.
The PSA said the 4.5 percent annual increase in VaPI in May marked a slight uptick from the 4.3 percent growth recorded in April. In May 2024, VaPI posted a 3.3 percent annual growth.
The agency attributed the acceleration mainly to faster growth in the manufacture of food products, which rose 16.4 percent in May compared to 11.9 percent in April. The food sector contributed 37.1 percent to the overall increase in VaPI, and carried the highest weight among the 22 manufacturing industry divisions.
Other key contributors included a smaller annual decline in the manufacture of chemicals and chemical products -- down 13.0 percent in May from a 23.3 percent drop in April -- and a stronger increase in transport equipment manufacturing, which grew 12.6 percent compared to 8.0 percent in the previous month.
Among the remaining 19 industry divisions, 11 recorded annual declines, while eight posted increases in VaPI.
The top three contributors to the overall VaPI growth in May were the manufacture of food products, transport equipment, and computer, electronic, and optical products.
Meanwhile, the manufacturing sector's VoPI rose by 4.9 percent year-on-year in May, up from 4.3 percent in April and 4.2 percent in May 2024.
The PSA said the same three industry divisions, food products, transport equipment, and chemicals, also drove the acceleration in VoPI growth.
Food manufacturing rose 15.7 percent year-on-year, up from 11.2 percent in April. Transport equipment rose 13.5 percent, compared to 7.4 percent in April, while the annual decline in chemical manufacturing narrowed to 13.8 percent from 23.8 percent.
Of the remaining 19 divisions, 11 posted year-on-year gains in May, while eight recorded declines.
The top three contributors to VoPI growth were the manufacture of food products, transport equipment, and computer, electronic, and optical products. ■
