The Philippine Statistics Authority (PSA) said on Thursday that manufacturing production in the Philippines maintained its increase in April.
The PSA said that the value of production index (VaPI) and volume of production index (VoPI) climbed by 10.7% and 8.2%, respectively, year over year in April based on the preliminary findings of a monthly survey.
According to the PSA, the VaPI increased quicker in April than it did in March (6%) and attributed this to the larger annual upturn in the manufacture of food items sector in April (19.7% vs. 10% in March).
Other significant factors included the production of transport equipment, which increased at an annual rate of 35.8 percent, and the production of other non-metallic mineral products, which increased at an annual rate of 19.1 percent.
The organization reported that eight of the 19 surviving industry divisions had annual increases over the time. During the month, 11 industry divisions experienced annual declines.
On the other side, the PSA reported that April’s VoPI growth is quicker than March’s, coming in at 3.4%, and it attributes the greater growth to the same top three industry divisions that helped the period’s VaPI expand more rapidly on an annual basis.
These included the production of food goods (14.7 percent, up from 4.3 percent the month before), transportation equipment (38.0 percent), and other non-metallic mineral products (15.7 percent).
According to the government, 13 of the 19 remaining industry categories saw annual declines during the time, while six of them saw annual growth.
