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The Philippine manufacturing sector saw improved growth in May 2025 as the manufacture of food products posted higher increases during the period
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The value of production index grew by 4.5% while the volume of production index likewise rose 4.9% in May 2025
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Top three contributors to growth were the manufacture of food products, chemicals and chemical products, and transport equipment
The Philippine manufacturing sector saw improved growth in May 2025 as the manufacture of food products posted higher increases during the period, according to latest data from the Philippine Statistics Authority (PSA).
The value of production index (VaPI) grew by 4.5% in May 2025, faster than the 4.3% and 3.3% increases in April 2025 and May 2024, respectively, according to PSA’s latest Monthly Integrated Survey of Selected Industries.
The volume of production index (VoPI) likewise rose 4.9% in May 2025, from a 4.9% hike in April 2025 and 4.2% growth in May 2024.
The growth of VaPI and VoPI in May was mainly attributed to the faster increase in the manufacture of food products at 16.4% and 15.7%, respectively.
Other primary contributors were the slower decline recorded in the manufacture of chemicals and chemical products, and the higher increment in the manufacture of transport equipment.
For VaPI, 11 other industry divisions posted annual drops, while eight others exhibited annual increments.
For VoPI, 11 other industries posted annual increments, while eight other industry divisions exhibited annual decreases during the period.
The value of net sales index (VaNSI), meanwhile, posted a year-on-year increase of 6.3% in May 2025 from 6.2% in April 2025 and 1.1% in May 2024. The volume of net sales index (VoNSI) likewise improved 6.7% in May 2025, up from the 6.2% increase in April 2025 and 1.9% in May 2024.
The faster increase in the manufacture of food products likewise mainly contributed to the growth in VaNSI and VoNSI.
Based on MISSI’s responding establishments, the average capacity utilization rate for the manufacturing sector in May 2025 was reported at 76.9%, slightly up from 76.7% average capacity utilization rate in the previous month.
All industry divisions reported capacity utilization rates of more than 60% during the month. The top three industry divisions in terms of reported capacity utilization rate were the manufacture of other non- metallic mineral products at 86.4%, manufacture of tobacco products at 83.9%, and manufacture of leather and related products, including footwear at 82.7%.
