Manufacturing sector tops revenue generation in RP

CEBU, Philippines – The Philippine manufacturing sector emerged as the highest revenue generator for Philippine industries in 2008 with total value output of P3.1 trillion in 2008 based on the recently released 2008 Annual Survey of Philippine Business and Industry (ASPBI) by the National Statistics Office (NSO).

In Cebu, NSO-Cebu Provincial Statistics Officer Ariel Diputado said that the manufacturing sector still top as employment generator for the province, although he projects that the BPO (Business Process Outsourcing) is an emerging large employment generator for the province in the next few years.

Recently, NSO launched the start of its 2009 Annual Survey of Philippine Business and Industry (ASPBI), 2009 Survey on Information and Communication Technology (SICT), and 2009 Survey of Tourism Establishments in the Philippines (STEP) in Cebu Thursday, and results of this activity is expected to complete in the next one to two years.   

The survey indicated that the manufacturing sector with total employment of over 20 people generated a total employment of 862,665. Top employers included the semi-conductor devices and other electronic components; ready made garments; production, processing and preservation of meat, fish and other seafood, fruit, vegetables, oils and fats, including slaughtering and meat packing; computers, computer peripheral equipment and accessories, other office, accounting and computing machinery.

The estimated value output of P3.1 trillion is a combined output value of the top ten industries comprised 61.7 percent of the total for manufacturing sector.

The top three grosser are; refined petroleum and other fuel products with P460.5 billion output value; semi-conductor devices and other electronic components, with P436.4 billion value output, and the production-processing-preservation of meat-fish and other seafood, fruit, vegetables, oils and fats with P200.3 billion output value.

A total of 4,603 manufacturing establishments with total employment of over 20, were covered in the 2008 ASPBI.

Other top revenue generators for the Philippine economy included wholesale and retail trade (repair of motor vehicles, motorcycles and personal household goods) P1.1 trillion; the Financial Intermediation sector with revenue generation reached P687.1 billion, followed by transport, storage and communications sector with estimated revenue of P495.1 billion in 2008.

The electricity, gas and water sector recorded a value output of P406.6 billion in 2008.

The hotels and restaurants sector generated estimated revenue of P138.1 billion in 2008, with total direct employment of 165,907 employees, for establishments employing over 20 people.

Other industries which were included in the survey are; construction sector P171.2 billion; Real Estate-Renting-and Business Activity sector P333 billion; Private education sector with P98.5 billion revenue output; Health and Social work sector with P59.7 billion; Other community, social and personal service activities sector with P89.4 billion revenue output. (FREEMAN)