The industry improves in March, with 4% year-on-year growth

The industry improves in March, with 4% year-on-year growth

Regarding the first quarter, the year-on-year increase is 1.4%, with a strong boost from pulp and concentrates.

Photo: Freepik

The production of the manufacturing industry in March was located 4% above its level a year ago, reported today the National Statistics Institute (INE). closed on first trimesterthe year-on-year increase in industrial production is 1.4%, without considering the oil refinery.

During the quarter there were important differences in the behavior between the different sectors. One of the most contributing to growth is the cellulosic industryAmong other things, because in March of last year the Montes del Plata company had made a technical maintenance stop. This sector grew 14% year-on-year in the quarter.


There was also a significant increase in the production of the colony concentrate plantbelonging to the Pepsi company, which increased its production 16% in the period. The beverage industry and the Cement industry They also contributed to sector growth, with year-on-year increases of 12% and 8%, respectively in the quarter.

On the contrary, the refrigeration industry (one of the main ones) continues to show a significant drop: 16% in the quarter, compared to the same period last year. The production of the Automotive industry: 17% down in the same comparison.

Industrial employment fell 2.5%

He employment in the industrial sector fell 2.5% in March compared to the same month last year. The drop in the quarter is from 1.9%

The industrial employment scenario has recently been complicated by the increased costs in dollars in the Uruguayan economy and -in particular- due to the great difference in prices with Argentina. In this context, this week the Chamber of Industries of Uruguay (CIU) released a survey in which it establishes that close to a third of the industries have seen drops in their sales on the western border, due to the impact of the smuggling from Argentina.

In the last days hill a food industry chocolate manufacturer. It is about the historical Ricard factorywhich belonged to Bimbo international Mexican group. The group decided to close the plant and lay off 62 workers. A few days ago it was also reported that the company saman, main Uruguayan rice mill (which belongs to Brazilian group Camil) decided to send about 100 operators of its mill in Montevideo to unemployment insurance, something that has no precedent in the performance of the company.

the growing incorporation of automation and machinery on a larger scale, together with the increase in costs and market limitations, have restricted the capacity of the industrial sector to generate jobs on a massive scale as in other times. Today the economy develops more indirect industrial employment, in the support and service sectors.

Source: Ambito

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