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Industry in the country declines, layoffs begin, and construction slows down

2023-12-16 09:02:55Biznes SHKRUAR NGA REDAKSIA VOX

Industry in the country declines, layoffs begin, and construction slows down

The industry sector, which accounts for about 9% of the gross domestic product (GDP), is going through a difficult situation.

INSTAT's data on short-term statistics on the production of goods show that the sector is recording a double-digit decline in sales and production volume, which is reflected in the decrease in the number of employees, while they are forced to increase wages.

The progress of the sector confirms other data, such as the contraction of exports, or the continuous complaints of the industry with material customers who are being hit by the devaluation of the euro and the increase in labor costs.

The contraction of the industry came from both extractive (-38.3%) and processing (-6.7%)

Construction, which until now has been one of the main sectors that has fueled economic growth, has also slowed down. Short-term statistics are the earliest indicator of the progress of the Gross Domestic Product.

Construction sales increased by only 0.2% in the third quarter on an annual basis, while production volume increased by 2.6%. While in the second quarter, construction sales increased by 5.2% and production by 6.5%.

Industry in deep decline

The indices of indicators in the Industry activity, in the third quarter of 2023, are presented as follows:

• The index of net sales in volume marked a decrease of 12.7%, compared to the same period of the previous year;

• The volume production index decreased by 14.4%, compared to the same period of the previous year;

• The index of the number of employees recorded a decrease of 3.3%, compared to the same period of the previous year;

• The salary fund index increased by 10.4%, compared to the same period of the previous year.

Water supply, treatment and waste management:

The indices of indicators in the Water Supply and Waste Treatment and Management activity, in the third quarter of 2023, are presented as follows:

• The index of net sales in volume marked a decrease of 17.0%, compared to the same period of the previous year;

• The volume production index decreased by 3.5%, compared to the same period of the previous year;

• The index of the number of employees recorded an increase of 1.2%, compared to the same period of the previous year;

• The salary fund index increased by 15.4%, compared to the same period of the previous year.

Construction also slows down

The indices of indicators in the Construction activity, in the third quarter of 2023, are presented as follows:

• The net sales index in volume increased by 0.2%, compared to the same period of the previous year;

• The volume production index increased by 2.6%, compared to the same period of the previous year;

• The index of the number of employees increased by 1.9%, compared to the same period of the previous year;

• The salary fund index increased by 15.0%, compared to the same period of the previous year.

 

 


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