Manufacturing: sales decline, investment rises

The NSO said today that sales and employment in sampled enterprises in manufacturing industry declined during the fourth quarter of 2007 when compared to the same quarter the previous year, while investment increased.

It said that sales by the sampled manufacturing enterprises stood at Lm249 million (€580 million), a decrease of Lm27.3 million (€63.6 million) when compared to the same period in 2006. The decrease was mainly due to the Radio, TV and Communication equipment sector and the Tobacco sector (no operations by sampled enterprises during 2007).

Higher sales during the fourth quarter were registered by the Chemicals and chemical products and the Electrical machinery and apparatus sector.

Export-oriented enterprises generated Lm200.4 million (€466.8 million) or 80.5 per cent of the total sales in the fourth quarter.

Total sales for 2007 stood at Lm1,020.5 million (€2,377.1 million), a decrease of Lm23.5 million (€54.7 million) when compared to 2006.

Employment, wages and salaries

Overall employment in the sampled enterprises declined by 606 employees to 17,676 during the fourth quarter when compared to the same period of 2006.

Lower employment levels were recorded mainly in the Wearing apparel and clothes sector, and the Radio, TV and Communication equipment, with a decrease of 722 and 361 employees respectively.

Increases in employment were mainly recorded in the Chemicals and chemical products sector, and the Electrical machinery and apparatus sector, with 212 and 158 employees respectively.

In the period under review an amount of Lm30.4 million (€70.8 million) was paid out in gross wages and salaries by the sampled enterprises.

Investment

In the quarter under review, Lm12.9 million (€30 million) investment was recorded. This was 5.9 per cent more than that during the comparable quarter in 2006.

During 2007, investment totalled Lm72.5 million (€168.9 million), an increase of Lm12.8 million (€29.8 million) over 2006. This investment in the sampled enterprises is distributed as follows: 87.4 per cent investment in machinery, equipment and furniture/fittings and 12.6 per cent in buildings.