Study indicates higher sales by manufacturing firms

Total sales by sampled manufacturing enterprises in the second quarter of this year increased by Lm6.5 million, or 2.6 per cent, to Lm260.2 million when compared to the same period last year, the National Statistics Office said yesterday.

Export-orientated enterprises generated Lm212.2 million, or 81.6 per cent, of the total sales.

The radio, TV and communication equipment manufacturing sub-sector registered an increase in sales of Lm3.3 million, or 2.8 per cent. Higher sales were also registered by the publishing and printing, the chemicals and chemical products as well as the furniture and manufacturing sub-sectors.

The food and beverages manufacturing sub-sector registered a drop of Lm1.3 million, or 3.9 per cent, in its sales.

The broad trends in manufacturing sales observed during the second quarter of 2007 were also registered for the first half of the year, where manufacturing sales rose by 4.1 per cent to Lm506.4 million.

In the second quarter of this year, the overall employment in the sampled enterprises amounted to 18,356, remaining on the same level as that registered in the same period the previous year.

Increases in employment were mainly recorded in the electrical machinery and apparatus, the radio, TV and communication equipment and the chemicals and chemical products sectors.

Lower employment levels were recorded mainly in the wearing apparel and clothes, the food and beverages and the medical, precision and optical instruments sub-sectors.

In the period under review, an amount of Lm31.1 million was paid out in gross wages and salaries by the sampled enterprises.

During the April-June quarter, overall investment in the manufacturing industry totalled Lm10.5 million, a drop of Lm5.7 million when compared to Lm16.2 million in the second quarter of 2006. On the other hand, investment during the first six months of the year added up to Lm33.2 million, basically on the same level as that for the first six months of last year.