Investment in manufacturing dips but sales rise

Investment in manufacturing declined in the third quarter by Lm1.5 million to Lm10.9 million compared to the same quarter last year.

However, investment in the January-September 2003 period was at the same level as the same period last year, the National Statistics Office said yesterday.

In the July-September quarter 2003, total sales by sampled manufacturing enterprises amounted to Lm263.4 million, an increase of Lm6.1 million or 2.4 per cent on the previous year.

The sample represented 90 per cent of manufacturing industries by turnover.

The radio, TV and telecommunications manufacturing sub-sector enhanced its sales performance by Lm15.8 million or 14.7 per cent to Lm122.9 million.

Sales by the printing and publishing sub-sector went up by Lm3.1 million or 30 per cent to Lm13.3 million from Lm10.2 million.

Sales by the "other transport equipment" and the food and beverages sub-sectors increased by Lm2.4 million and nearly Lm1 million respectively.

In the course of the third quarter this year, sales by the clothes sub-sector were down by Lm6 million or 34.9 per cent to Lm11.3 million from Lm17.3 million last year.

At the same time, drops in sales were also registered by the furniture and manufacture NEC, the textiles, the leather, the plastic and rubber products, the fabricated metal products and the electrical machinery sub-sectors.

Employment in the sampled enterprises decreased by a net of 1,273 to 20,621 when compared to the third quarter of last year. Most of the drop was recorded in the clothes (814 employees), the leather (223 employees) and the plastic and rubber products (213 employees) sub-sectors.

The radio, TV and telecommunications sub-sector increased its workforce by 79 employees. Other sub-sectors which registered an increase in employment were the "other transport equipment" (57 employees) and the printing and publishing sub-sectors (55 employees).

In the period under review, around Lm30.4 million were paid out in wages and salaries by the sampled enterprises.