Philippine manufacturing sector on a roll

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Manila: The Philippine Statistics Authority released data from the 2012 Census of Philippine Business and Industry (CPBI), showing that the number of manufacturing firms with 20 workers or more jumped to 7,313 from 4,663 in 2010—a hefty 57 per cent jump in two years. Still not counted are firms with less than 20 workers, and informal enterprises.

The CPBI only covers the formal sector composed of corporations and partnerships, cooperatives and foundations and formal single proprietorships. One can surmise that the numbers would be much larger with the inclusion of smaller firms (less than 20 workers) and those operating informally.

This is the latest hard evidence that manufacturing in the country has been in resurgence since 2010, when the sector swung around to a 12.3-per cent jump from 5.1-per cent contraction in 2009.

Food products took the largest share of all manufacturing firms, comprising 12.4 per cent of the total. Second was wearing apparel, followed by plastic products and printing and related services.