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F&B manufacturing in Philippines and Thailand shrinks while Vietnam and Indonesia see growth: Oxford Economics report By Guan Yu Lim Philippines’ and Thailand’s F&B manufacturing sectors shrunk amid the COVID-19 pandemic last year, while Vietnam and Indonesia saw positive growth, according to a new report.
Oxford Economics estimates that Philippines and Thailand experienced a 7% and 4% drop respectively in their F&B manufacturing sector.
For Vietnam and Indonesia, their F&B manufacturing sectors were estimated to have expanded by 5% and 3% in 2020 respectively.
In the report, F&B manufacturing comprised the production of food and non-alcoholic beverages.
Along with F&B distribution (retail, catering, hospitality) and agricultural production, the three components make up the main agri-food sector.