FX.co ★ Philippines Manufacturing Output Rebounds in April

In April 2025, manufacturing production in the Philippines experienced a 4.3% increase year-on-year, rebounding from a revised 1.4% decline in March. This recovery was largely fueled by a resurgence in the production of basic metals, which surged by 17.3% compared to a steep 43.8% decline in March, accounting for 94.1% of the annual increase. Other sectors contributing to this upward trend included the manufacture of leather and related products, which saw a 63% increase compared to 47% previously; transport equipment, with an 8.0% rise from 7.2%; and fabricated metals, excluding machinery and equipment, which increased by 7.9% up from 1.4%. Furthermore, output in the furniture sector showed improvement, advancing by 3.8% after a 9.3% decline. Conversely, production growth slowed for several sectors: food products, which grew by 12.1%, down from 17.6%; tobacco products, which increased by 10.6% compared to 28.2%; electrical equipment, which rose by 4.8% from 24.4%; and rubber and plastics products, which barely edged up by 0.1% from an 8.7% growth previously. Seasonally adjusted, monthly manufacturing output advanced by 12.7%, rebounding from a 3.3% decline in the prior month.