Manufacturing Production in Philippines
The economy recorded an average growth rate of 4.5% in the manufacturing sector in the decade leading to 2022. In 2022, the manufacturing sector's growth rate was 4.9%, a change from the 8.9% of the previous year.
Philippines Manufacturing Chart
Note: This chart displays Manufacturing Production (ann. var. %) for Philippines from 2014 to 2023.
Source: Macrobond.
Philippines Manufacturing Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Manufacturing Production (ann. var. %) | 3.8 | -9.8 | 8.9 | 4.9 | 1.3 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Philippine manufacturing projections for the next ten years from a panel of 3 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable manufacturing forecast available for Philippine manufacturing.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Philippine manufacturing projections.
Want to get access to the full dataset of Philippine manufacturing forecasts? Send an email to info@focus-economics.com.