08 March 2006

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Business Today

Manufacturing sales dip in Q4 2005

During the fourth quarter 2005, total sales by the manufacturing enterprises decreased by Lm7.5 million or 3 per cent to Lm241.2 million from Lm248.7 million of the October-December quarter 2004.
The Radio, TV and Communication equipment sub-sector registered a decrease in its sales performance by Lm7 million or 6.2 per cent to Lm105.3 million from Lm112.3 million in the previous year. Sales by the Elecrical machinery and apparatus and
Wearing apparel and clothes sub-sectors also recorded a decrease in their sales of
Lm3.0 million and Lm2.9 million respectively when compared to the same period under review of 2004.
In the course of the fourth quarter this year, sales by the Publishing and printing manufacturing sub-sector increased by Lm3.4 million, whilst that for the Textiles and textile products and the Other non-metallic mineral products sub-sectors increased by Lm1.5 million and Lm1.3 million respectively.
During 2005, total manufacturing sales was of Lm947.3 million a decrease of Lm68.2 million or 6.7 per cent, when compared to Lm 1015.6 million for the annual turnover of
Employment in the sampled enterprises declined by 673 employees to 19,049, when compared to 19,722 in the same period the year before.
Most of the job losses were registered in the Textiles and textile products (-338 employees), the Rubber and Plastic Products (-223 employees), the Wearing apparel and clothes (-161 employees) and the leather and leather products (-117 employees) manufacturing sub-sectors.
An increase in employment was recorded by the Furniture and Manufacturing
(134 employees) and the other non-metallic mineral products and the Chemicals and chemical products manufacturing sub-sectors with 60 and 59 employees respectively.
When taking into account the employment at the end of September and that at the end of December 2005, a decrease of 458 employees was registered. The Textiles and textile products manufacturing sub-sector contributed for most of this decrease with a reduction of 232 employees. On the other hand, an increase of 40 employees was recorded in the Radio, TV and Communication equipment sub-sector between the end of the third quarter and the end of the fourth quarter 2005.
In the October-December quarter 2005 an amount of Lm29.7 million was paid out in wages and salaries by the sampled enterprises.
During the fourth quarter 2005, overall investment in manufacturing industry increased by Lm1 million to Lm13.6 million compared to Lm12.6 million for the same period the previous year. On the other hand, investment during the year 2005 added up to Lm48.8 million, a decrease of Lm4.6 million when compared to Lm53.4 million registered during the year 2004.

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