Manufacturing sales decline

In the first quarter this year, total sales by manufacturing enterprises decreased by Lm31.7 million or 12 per cent to Lm231.5 million from Lm263.2 million a year earlier, the National Statistics Office said yesterday.

In the quarter under review, investment in manufacturing declined by a net amount of Lm3.8 million to nearly Lm8 million compared to Lm11.8 million of the previous year. Most of the drop resulted in the Radio, TV and Communications sub-sector, where investment dropped by Lm4 million to Lm3.2 million from the Lm7.2 million recorded in the first quarter last year.

In the first quarter this year, employment in the sampled enterprises declined by 338 employees to 21,623, when compared to the first quarter the year before. Most of the job losses were registered in the Radio, TV & Communications (-140 employees), the Furniture & Manufacturing N.E.C. (-138 employees), the Medical and Precision Equipment (-132 employees) and the Leather (-97 employees) manufacturing sub-sectors.

The Plastic and Rubber Products and the Clothing manufacturing sub-sectors recorded an increase in their employment levels of 115 and 98 employees respectively.

The decline in employment was reflected in the wages and salaries paid out by the sampled enterprises. In the period under review, an amount of Lm28.1 million was paid out in wages and salaries; a decrease of Lm0.7 million over the same period of 2001.

The NSO also analysed the sales by the manufacturing enterprises by sub-sector. The Medical Precision Equipment manufacturing sub-sector enhanced its sales performance by Lm2.8 million to Lm5.4 million from Lm2.6 million in the previous year.

Sales by the Food and Beverages manufacturing sub-sector increased by Lm2.4 million or 11.2 per cent to Lm24.3 million from Lm21.9 million.

The Printing and Publishing sub-sector also registered an increase in sales of Lm1.6 million or 18.0 per cent to Lm10.3 million from Lm8.7 million.

Furthermore sales by the Other non-Metallic Minerals and the Plastic and Rubber Products manufacturing sub-sectors were up by Lm1.4 million and Lm1.0 million respectively.

In the course of the first quarter this year, sales by the Radio, TV and Communications sub-sector were down by Lm36.4 million or 24.2 per cent to Lm114.4 million from Lm150.8 million last year.

At the same time, drops in sales were also registered by the Furniture & Manufacturing N.E.C. and the Tobacco sub-sectors.