Manufacturing turnover slightly higher

Manufacturing turnover increased by 3 percent in March, compared with March 2007. In February this year turnover grew by 16 percent. Turnover growth in March was achieved with two working days fewer than one year previously, while February 2008 had one working day extra compared with February last year.

March’s increase in turnover was accompanied by substantially higher selling prices: the manufacturing industry charged 10 percent more for products. Petroleum products, in particular, cost more. Prices in food processing and the chemical industry also rose sharply compared with March 2007.

In the food processing industry and the oil refining and chemical industry turnover improved by 12 and 7 percent respectively.  All other branches realised less turnover than twelve months previously though. With a fall of 15 percent, turnover decreased by most in the textile industry. Within manufacturing the textile industry brought up the rear for the seventh month in a row.

Turnover growth on the domestic market was 4 percent in March, compared with 1 percent on the foreign markets. The food processing industry achieved a 12 percent increase in turnover on both the domestic and the export market.

Manufacturing turnover