PMI of manufacturing sector Philippines 2021-2024, by month

The manufacturing sector in the Philippines had a Purchasing Managers Index (PMI) of 52.4 in April 2024, reflecting growth from the previous month. The country’s manufacturing sector recorded the highest growth in April and May 2022. 

Manufacturing landscape in the Philippines

The Philippine manufacturing sector contributed the second-highest share of the country’s gross domestic product in 2023. Food manufacturing was the most profitable within the industry and accounted for the highest share of establishments. However, in terms of trade, electronic products were the leading export goods from the Philippines, which accounted for about 57 percent of the total exports from the country in 2023.

PMI – more information

The Purchasing Managers’ Index, or PMI, is an economic indicator in the manufacturing sector published by S&P Global. It measures the change in economic activity within the industry each month using a survey of supply chain managers. It considers new orders, employment output, and supplier delivery time. A score above 50 signals growth or expansion compared to the previous month. Meanwhile, a score of below 50 represents a contraction, and a reading of 50 represents an equal balance. As of February 2022, India had the highest PMI among developing Asian countries, followed by Vietnam and Taiwan.