It increased compared to the 66.7% of the same month last year. The main positive incidences were in oil refining and in the automotive industry.
The use of installed capacity in the industry was 67.5% in March, which implies an increase compared to the level of March 2022, which stood at 66.7%. Thus, it reached its highest record in the last four months.
The sectors that were located above the general measurement were petroleum refining (85.1%), basic metallic industries (79%), paper and cardboard (76.9%), non-metallic mineral products (76.3%) , automotive industry (72.5%) and chemical substances and products (72.1%).
While the sectors that were 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 main positive incidents in 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 year-on-year 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 greater number of units manufactured by automotive terminals, reported INDEC. .
According to data from the manufacturing IPI, the manufacture of motor vehicles 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 basic 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 and beverage products 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.
Source: Ambito
