INDUSTRIAL TURNOVER FOR Q1 INCREASED BY 3.5 PER CENT WHEN COMPARED TO 2019

Source: Malta Chamber of Commerce

Date: 17/05/2020

While a decrease was registered when compared to Q4, 2019, the first months of 2020 saw an upswing from last year’s numbers.

The working-day adjusted industrial turnover increased by 3.5 per cent during the first quarter of this year, when compared to the same period in 2019.

An increase was registered, principally, in the capital goods (10.5 per cent) sector, as well as in consumer goods (3.6 per cent), intermediate goods (1.2 per cent), and energy (0.2 per cent), according to statistics released today by the National Statistics Office (NSO).

On the other hand, a dip of 2.1 per cent was recorded across Q4 2019 and Q1, 2020, mainly as a result of a drop in the consumer goods industries of 5.8 per cent. 

Despite this decrease, a rise was still recorded in other sectors, when compared to the last quarter of last year: by 5.9 per cent in the capital goods industry, 4.1 per cent in intermediate good and 3.6 per cent in the energy sectors, the NSO found.

In the meantime, and despite the COVID-19 pandemic having hit the majority of industries, and their workers, the working-day adjusted industrial gross wages and salaries actually increased by 0.4 per cent. A decrease, however, was recorded in year-on-year employment, with the hours worked also decreasing by 0.2 per cent.

Tags: Business | Industry |