Manufacturing sales value drops 2% in April, lowest since May 2020

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Manufacturing sales value drops 2% in April, lowest since May 2020
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Manufacturing sales value drop 2% in April, lowest since May 2020 FMTNews FMTBusiness

The sales value of the manufacturing sector has declined by 2% year-on-year in April, according to the statistics department.

“In comparison with the previous month, the sales value returned to a decline with -7.2% against an increase of 7.6% registered in March 2023,” it said. “Nonetheless, the domestic-oriented industries maintained a positive trend with a growth of 1.6% in April y-o-y, primarily underpinned by the manufacture of fabricated metal products, except machinery and equipment ; manufacture of other non-metallic mineral products ; and the manufacture of food processing products industries.

“The increase was supported mainly by the food, beverages and tobacco products ; electrical and electronic products ; and wood, furniture, paper products and printing sub-sectors.

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