The INDEC also reported that in November 2022, ten of the sixteen divisions of the manufacturing industry presented year-on-year increases.
In order of its incidence at the general level, there were increases in 8.6% in “Clothing, leather and footwear”; 5.6% in “Basic metal industries”; 7.3% in “Automotive vehicles, bodies, trailers and auto parts”; 9.4% in “Other equipment, devices and instruments”; 6.9% in “Metal products”; 0.8% in “Food and beverages”; 3.0% in “Non-metallic mineral products”; 4.7% in “Oil refining, coke and nuclear fuel”; 0.9% in “Chemical substances and products”; and 7.4% in “Tobacco Products”.
On the other hand, it was observed falls of 6.4% in “Wood, paper, publishing and printing”; 4.2% in “Machinery and equipment”; 3.6% in “Rubber and plastic products”; 4.6% in “Textile Products”; 1.5% in “Furniture and mattresses, and other manufacturing industries”; and 1.4% in “Other transport equipment”.
ups and downs
One of the highlighted items was the division of motor vehicles, bodies, trailers and auto parts who showed a YoY increase of 7.3% in November. The production of motor vehicles, which presents the main positive impact12.6% year-on-year increase. According to data from the Association of Automotive Factories (ADEFA) to INDECin November a year-on-year rise both in the number of units produced of automobiles (23.8%) and utility vehicles (7.4%).
The manufacture of footwear and its partswhich presented a 31.8% year-on-year increasewhile with respect to the basic metal industries, the highest year-on-year growth was observed in the production of aluminum and other non-ferrous metals (30.7%) and in metal casting (28.5%).
According to the companies consulted by the indec, there is a greater demand for products and parts for general industrial use, and for the electrical sector. Industry sources indicate that the Lower demand for imported lines has partly driven growth in the local manufacturing of certain parts and products. On the other hand, the restitution of the full activity of the production facilities has made it possible to increase the level of production to satisfy the requirements of the demand. In the case of the metal meltingthere is a greater demand for cast products destined for the sectors of the automotive industry, mining, and oil and gas extraction.
For its part, the steel industry decreased 6.4% in November compared to the same month of 2021. As pointed out the Argentine Chamber of Steel to the Indec, the production of hot-rolled products shows a year-on-year drop of 5.4%, while production of cold-rolled products decreases 17.1% in the same comparison.
According to the Chamber’s press release, some plants are working with inventories below the safety stock, related to difficulties in access to imports of semi-finished steel products and inputs and spare parts necessary in the production cycle.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
