NSO survey shows lower Q3 sales, higher investment

The manufacturing sector saw lower sales and employment and higher investment in the third quarter of this year, the NSO said.

It said that during the third quarter of 2007, total sales by sampled manufacturing enterprises decreased by Lm9.2 million, or 3.4 per cent, to Lm257.4 million from Lm266.6 million for the same period last year. The decrease was mainly due to the radio, TV and communication equipment sector, the tobacco sector (operations of sampled enterprises ceased in 2006) and the wearing apparel and clothes manufacturing sector (due to the closure of one of the main enterprises).

Higher sales during the third quarter this year were registered mainly by the chemicals and chemical products, the electrical machinery andapparatus sector and the furniture and other manufacturing sectors.

Export-oriented enterprises generated Lm208.1 million or 80.8 per cent of the total sales in tthe third quarter.

Sales in the first nine months compared to the same period last year grew by  Lm2 million. 

The NSO said  overall employment in the sampled enterprises declined by 705  to 17,817 in the third quarter when compared to the same period last year.

Lower employment levels were recorded mainly in the wearing apparel and clothes sector, with a decrease of 718 employees. Other decreases were registered by the radio, TV and
communication equipment, and the food and beverages, tobacco products sectors.

There was employment growth in the  electrical machinery and apparatus, and the chemicals and chemical products sectors.

In the quarter under review, overall investment grew to Lm22.7 million, an increase of Lm9 million when compared to the third quarter of 2006.

During the first three quarters of 2007, investment totalled Lm59.2 million, an increase of Lm11.8 million over the Lm47.5 millon registered in 2006.