Why Manufacturing Resurgence Will Mean More Services, Not Less

Ramonette Serafica

No DP 2016-46, Discussion Papers from Philippine Institute for Development Studies

Abstract: Services are critical inputs in manufacturing production, and this is likely to intensify with the advent of new technologies. Based on the trade in value-added data of the Organisation for Economic Co-operation and Development, the share of services embodied in Philippine manufacturing exports is among the lowest in the region. Moreover, value added from "ICT services" and "Other business services" seem inadequate compared to patterns observed in other countries, while the share of "Wholesale and retail services" is significantly high. To sustain manufacturing resurgence, reliable, good quality, and affordable services are essential. Thus, the government should vigorously undertake structural reforms particularly in services needed by producers and exporters. Improving the regulatory regime for services trade is especially crucial to enable manufacturing firms to participate and move up global value chains.

Keywords: Philippines; services; global value chains; manufacturing; trade; value added; wholesale; retail (search for similar items in EconPapers)
Date: 2016
New Economics Papers: this item is included in nep-int and nep-sea
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