by RSJ, GMA News, 5 Feb 2020
Philippine manufacturing fell for the 13th straight month in December, data released by the Philippine Statistics Authority (PSA) on Wednesday showed.
Preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI) showed that the factory output or Volume of Production INdex (VoPI) fell 10.1% in December 2019.
“Petroleum products and basic metals, with 47.9% decrement, contributed largely to the decrease of VoPI in December 2019,” the PSA said.
Other major industries that noted two-digit decrements were furniture and fixtures (-30.4%), and miscellaneous manufactures (-10.5%).
Other drops were recorded in textiles (-9.1%), transport equipment (-3.4%), rubber and plastic products (-1.2%), and paper and paper products (-1.1%).
In terms of the Value of Production Index (VaPI), the MISSI showed an annual drop of 9.5% in December 2019 versus the 9.1% decline the same month in 2018.
“The decline in VaPI was mainly influenced by the decreases in the indices of nine major industry groups led by basic metals (-50.6%), petroleum products (-48.8%) and textiles (-11.9%),” said the PSA.
Declines were also recorded in registered in miscellaneous manufactures (-9.9%), transport equipment (-8.3%), paper and paper products (-4.6%), electrical machinery (-3.6%), wood and wood products (-1.9%), and food manufacturing (-0.7%).
The latest figures brought full-year manufacturing to a drop of 8.6% for the VoPI, and 7.1% for VaPI, reversing the positive growth in 2018.
“We encourage industries to capitalize on innovation to reach their growth potential in this era of the Fourth Industrial Revolution. To this end, the government needs to formulate and implement policies and programs to stimulate innovation in the country,” Socioeconomic Planning Secretary Ernesto M. Pernia said in response.
“The Philippines also needs to improve its reputation concerning intellectual property protection. This will attract foreign companies to locate sensitive technologies and product operations in the country,” added Pernia.
The Cabinet official also called for the improvement in the local transport and logistics sectors to boost manufacturing.
“To support manufacturing growth, there is a need to strengthen the transport and logistics sectors by building quality and climate-resilient infrastructure,” he said.
“In this regard, a proposed bill to amend the Contractor’s License Law will open up the country’s construction sector to eligible and qualified domestic and foreign contractors,” elaborated Pernia. —
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
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Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
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