Trade and Industry Secretary said that a robust manufacturing sector in the
country will drive our sustained growth in our economy. This comes in the
heels of the report from the Philippine Statistics Authority that says,
among other things, that manufacturing in the country grew by 9.4 per cent
Manufacturing in the Philippines contributed a hefty 6.9 per cent to the
Philippines' Gross Domestic Product, one of the fastest in the region and
all of Asia. It has in fact contributed to the Phlippine GDP a total of
22.4% during the third quarter of the year. This only shows that the
country is meeting its minimum target growth of growing the manufacturing
industry to 25 per cent. With this target in sight, the Dept. of Trade
& Industry will continue with its task of reviving factories, expanding
production and generating employment. The government agency is also serious
is providing the catalyst that will build the link between a productive
agriculture and a stronger services sector. The services sector showed a
growth of 7.1% and agriculture at 2.5 %. Other major sectors reflected a
growth of 7.5%.
Food manufacturers accounted for 23.6 % of total gross value added in
manufacturing, making it the biggest contributor. They are followed radio,
television and communication equipment and apparatus with 18.6%, and
chemical and chemical products with 15.9%. The fastest growth was
registered by manufacturers of fabricated metal products at 66.8%, followed
by furniture and fixture at 32.3%, and office, accounting and computing
machinery at 25.5%.
The growth in investments in the country grew by 30% and this increase
fuelled the growth in manufacturing, according to Trade Secretary Lopez.
"The DTI has pursued the Manufacturing Resurgence Program in collaboration
with business and industry champions. So far, DTI has finalized 36 industry
road maps that will pave the way for the development of priority
industries," Lopez said.
Meanwhile, DTI is focusing on training and upgrading the capability of our
labor force and in developing our own or adapting available technologies.
The country will also strive towards improved operational efficiency to
allow us to be more competitive.