THE manufacture of electronics and cigarettes accounted for the manufacturing industry’s top contributors to the economy in 2015, according to the Philippine Statistics Authority (PSA).
Based on the final results of the 2015 Annual Survey of Philippine Business and Industry (ASPBI), the total value that all manufacturing establishments added to the economy reached P1.2 trillion in 2015.
The manufacture of semiconductor devices and other electronic components contributed P133.8 billion, or 11.4 percent of the total, while cigarettes and cigars contributed P108.7 billion, or 9.2 percent—or, together account for a fifth of the total contributed value.
“The combined value added of the top 10 industries reached P596.3 billion, or 50.7 percent [of the total],” the PSA said.
The manufacture of motor vehicles came in third with P104.6 billion, or 8.9 percent of the total.
Meanwhile, the ratio of value added to total employment, a measure of labor productivity, was recorded at P909,000 per worker.
The manufacture of malt liquors and malt exhibited the highest labor productivity of P15.37 million per worker.
The manufacturing industries with more than P4 million of reported labor productivity in 2015 also included motor vehicles with P15.29 million; distilling, rectifying and blending of spirits, P14.43 million; cigarettes and cigars, P14.17 million; and refined petroleum products, P11.42 million.
In terms of total value of output, which is the sum of the sale of products and by-products, the manufacturing sector generated P4.6 trillion.
Total value of output also accounts for the income from industrial services done for others, sale of goods less cost of goods sold, fixed assets produced on own account, and change in inventories of finished products and work-in-progress.
The manufacture of semiconductor devices and other electronic components had the highest with output value of P441.7 billion, or 9.7 percent of the total.
The list of the top 10 contributors to P1.9 trillion worth of value of output also included the manufacture of refined petroleum products with P389.6 billion, followed by computers and peripheral equipment and accessories, P213.5 billion; motor vehicles, P200.6 billion; and cigarettes and cigars, P145 billion.
It also included powdered milk and condensed or evaporated milk, P139.1 billion; parts and accessories for motor vehicles and their engines, P98.2 billion; soap and detergents, P88.2 billion; cement, P87.2 billion; and electric ignition or starting equipment for internal combustion engines, P85.3 billion.
Meanwhile, PSA data showed that Filipinos extended P2.2 billion worth of subsidies for the manufacturing sector in 2015.
“Subsidies are all special grants in the form of financial assistance or tax exemption or tax privilege given by the government to aid and develop an industry,” the PSA explained.
There are three sectors which received the top 3 largest subsidies worth P1.2 billion, or a combined share of 54.4 percent. The fluid power equipment industry received the most with P554.8 million worth of subsidies, or 25.3 percent of the total.
The building of ships and boats other than sports and pleasure boats followed with P357 million, or 16.3 percent of the total, followed by the manufacture of parts and accessories for motor vehicles and their engines, P282.9 million, or 12.9 percent.
A total of 24,296 manufacturing establishments were counted in the formal sector of the economy in 2015. The top 10 manufacturing industries comprised more than half, or 58.4 percent of all manufacturing establishments in the country.
Baking of bread, cakes, pastries, pies and similar “perishable” bakery products accounted for the biggest number with 6,704 establishments, or 27.4 percent of the total.
The manufacture of bottled water followed with 2,350 establishments, or 9.6 percent, followed by printing with 1,439 establishments, or 5.9 percent of the total.
The 2015 ASPBI is one of the designated statistical activities of the PSA. Data collected from the survey provides information on the levels, structure, performance and trends of economic activities of the formal sector in the entire country.
The survey was conducted nationwide in April 2016 with the year 2015 as the reference period, except for employment which is as of November 15, 2015.
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