The use of installed capacity in the industry was 67.5% in Marchwhich implies an increase compared to the level of March 2022, which stood at 66.7%, as reported by INDEC on Wednesday, May 17.
The sectors that were located above the general measurement were petroleum refining (85.1%), basic metal industries (79%), paper and cardboard (76.9%), non-metallic mineral products (76.3%), automotive industry (72.5%) and substances and chemical products (72.1%).
While the sectors that were located below the general level were publishing and printing (62.5%), tobacco products (61.3%), food and beverage products (61.3%), rubber and plastic products (58.0%), metalworking except automotive (57.3 %) and textile products (52.5%).
The mainyes positive incidences March were in oil refining and in the automotive industry. Oil refining showed a level of utilization of installed capacity of 85.1%, higher than that registered in the same month of the previous year (71.9%), based on the higher level of crude oil processing.
Indeed, according to data from the industrial manufacturing production index (IPI manufacturing), gasoline and diesel production showed interannual increases of 25.9% and 22.5%, respectively, in March.
The automotive industry, which had a level of utilization of installed capacity of 72.5%, was higher than that of March 2022 (59.5%), related to the largest number of units manufactured by the automotive terminals, INDEC reported this afternoon.
According to data from the manufacturing IPI, Motor vehicle manufacturing increased 26.6% year-on-year in March. The increase in production levels responds to greater demand, both from the internal and external markets.
The IFBasic metal industries present a level of utilization of installed capacity of 79% in March, higher than that registered in the same month of the previous year (76.1%). According to data from the Argentine Chamber of Steel, crude steel production shows a year-on-year rise of 1.8% in the reference month.
In March 2023, compared to the same month in 2022, Food products and beverages exhibited the main negative incidence, with a level of utilization of installed capacity of 61.3%, lower than that of March of the previous year (64.4%). Mainly linked to the lower level of use of the oilseed milling plants.
Indeed, according to data from the manufacturing IPI, the crushing of oilseeds exhibited a year-on-year drop of 21.3% in March. The decrease in soybean production due to the severe drought that affected the crop last season has a direct consequence on the processing volume of the oil industry, and reduces the production of soybean oil and mealrevealed the Indec.
According to data from the Ministry of Agriculture, Livestock and Fisheries, the production of soybean oil and by-products presented an interannual decrease of 25.9% in March
Source: Ambito
