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Philippines COUNTRY REPORT

Stay informed about the economic trends, steel industry performance, and environmental initiatives in the Philippines. Get insights on GDP growth, steel consumption, key developments, and environmental updates for a comprehensive overview.

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Philippines COUNTRY REPORT

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  1. 2012 SEAISI Economic, Environmental & Safety Seminar Nov. 27-28, 2012 • Bangkok, Thailand PhilippinesCOUNTRY REPORT Presented by: JOEL T. RONQUILLO Philippine Iron and Steel Institute (PISI)

  2. ECONOMIC UPDATES: • The Philippines apparent steel consumption reached 5.1 million MT in 2011, a 24% growth compared to 4.1 million MT in 2010. • One of the key economic trends is that the GDP posted a 3.7% growth in 2011. • The Philippine government forecast is for GDP to grow to 5-6% in 2012.

  3. GDP Growth by Sector, 2009-2011* * Revised figures from National Economic Development Authority

  4. Performance of the Steel Industry in 2011 Apparent steel consumption reached 5.1 million MT in 2011, growing by 24% compared to 4.1 million MT in 2010. .

  5. Key Developments in 2011 • STEEL DEMAND • Decreased government spending on infrastructure • Recovery in the real estate sector • STEEL SUPPLY • Significant increase in local billet production • Continuing shutdown of Global Steel (formerly National Steel Corp.) • Continuing displacement of locally manufactured light sections, GI/PPGI sheets, CRC, HRC & pipes by imports

  6. Comparative Steel Demand 2010 2011 Construction Construction Light & Heavy Fabrication Light & Heavy Fabrication Others Packaging Others Packaging

  7. Summary of Key Steel Statistics *2010 figures adjusted based in updated import statistics of tin products

  8. Apparent Consumption:SEMI-FINISHED STEEL Sources: Bureau of Customs (BOC), Department of Trade and Industry (DTI) and Industry Sources

  9. Apparent Steel Consumption: Sources: Bureau of Customs (BOC), Department of Trade and Industry (DTI) and Industry Sources 1 Covers hot rolled products only in order to avoid double counting 2 Excludes bar products converted from wire rods

  10. Breakdown of Finished Steel Production in MT (2011 vs. 2010) Source: Industry Sources 1 Includes bar products converted from wire rods * 2010 figures revised using new industry data

  11. Breakdown of Finished Steel Imports in MT (2011 vs. 2010) Sources: Bureau of Customs (BOC), Department of Trade and Industry (DTI) and Industry Sources * 2010 figures updated from BOC and Industry sources

  12. Breakdown of Finished Steel Exports in MT (2011 vs. 2010) Source: National Statistics Office and Industry Sources

  13. Philippine Economic Outlook for 2012 • Government forecast is for GDP to grow to 5-6% in 2012 • However, there are downside risks arising from: • High power costs and supply constraints • Higher inflation due to increasing food and fuel prices • Volatility of international capital flows • High levels of government deficit / debt burden • The challenge to the Philippines – • Revenues: Increase tax effort, mainly from compliance boost • Infrastructure:Massive catch-up program needed • Investments:Now exceeded by savings; confidence boost needed

  14. Steel Outlook for 2012 • Steel demand to benefit from – • A generally optimistic macroeconomic outlook • International credit ratings upgrades • A vibrant real estate sector that is supported by sustained OFW remittances and an improved confidence in the property industry • Increased government-private sector program on infrastructure development • More than 3 million units backlog from housing development • New hotel and other tourism developments • The steel supply situation in 2012 – • More production of billets • Expected increase in imports of finished steel products due to zeroing of tariffs under FTAs with China and Korea

  15. Steel Projects

  16. ENVIRONMENTAL UPDATES: • A proposed DENR Administrative Order (DAO) establishing the National Ambient Air Quality Guideline Values for PM2.5. • Creation of Executive Order No. 11 - An Executive Order creating the Climate Change and Greenhouse Gas Management Council in the City of Pasig. • Proposed DAO revising DAO 2004-36 (Procedural Manual on Hazardous Waste Management)

  17. Thank You for your attention!

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