Manufacturing sector shows strong growth in the Philippines

06/08/2010

The manufacturing sector in the Philippines grew 19% in May compared with May 2009 figures, according to the national statistics office.

Its figures showed that 16 of the country’s 20 biggest manufacturing segments grew during the month led by petroleum products, for which production value rose by 75%.

Ten other industries posted double-digit growth including leathergoods, rubber and machinery.

Compared with April 2010, May production value growth was 5%, with the biggest increase registered for tobacco products (91%). Leathergoods also registered a significant double-digit increase.

Production volume rose 26% in May compared with May 2009 and 5% compared with April 2010.