Lower manufacturing sales in third quarter

The sales of manufacturing enterprises in the third quarter stood at €557.8 million, a decrease of €44.1 million (7.3 percent) when compared to the same period in 2007, a sample survey by the National Statistics Office found.

The decrease was mainly due to lower sales in radio, TV and communication equipment, electrical machinery and apparatus, and chemicals and chemical products.

Lower sales were also registered in rubber and plastic products, textiles and textile products and machinery and equipment not classified in other sectors.

Higher sales during this period were registered in food and beverages, publishing and printing, other non-metallic mineral products and fabricated metal products.

Export-oriented enterprises generated €422.5 million (75.7 percent) of the total sales.

The NSO said that in the third quarter this year, employment in the sampled enterprises declined by 300 employees to 17,428 over the same period last year.

Lower employment levels were mainly recorded in the radio, TV and communication equipment sector and in the wearing apparel and clothes sector, with decreases of 257 and 105 employees respectively.

Increases in employment were mainly recorded in the publishing and printing and the food and beverages sectors, with 90 and 77 employees respectively.

In the period under review, €69.5 million was paid out in gross wages and salaries by the sampled enterprises.

Overall investment in the manufacturing industry was halved compared to the third quarter in 2007, amounting to €26.9 million against €53 .