Philippines: double-digit rise in cement sales

Philippines: double-digit rise in cement sales
Published: 04 February 2016

Tagged Under: Philippines ASEAN Asia Dispatches 

Cement sales in the Philippines increased by a strong 14.4 per cent YoY in 2015 to 24.36Mt, according to figures by the Cement Manufacturers' Association of the Philippines (CeMAP).

CeMAP president Ernesto Ordoñez said the increased sales was brought about by the large budget by Public Works Department for infrastructure development, private sector confidence in government and new housing projects with low interest rates. Favourable weather conditions with reduced rains during the year also proved to be a growth driver.

In the fourth quarter alone, cement sales increased by 16.7 per cent to 6.08Mt from 5.21Mt in the same period of 2014.

Cement sales have been on an upswing since 2011, hitting 21.3Mt in 2014, before being surpassed by the 2015 level.

Mr Ordonez said that the positive trend is expected to continue through 2016, an election year.  He added that investors have factored in the changed in leadership, and that this would not have a big impact on their expansion and investment plans.