Sales, employment and investment in the sampled enterprises in the manufacturing industry declined during the first quarter of 2008 when compared to the same quarter last year, whilst wages and salaries edged up.

Sales - During the first quarter of 2008, sales by the sampled manufacturing enterprises stood at €539.2 million, a decrease of €41.6 million or 7.2 per cent when compared to the same period in 2007. The decrease was mainly due to the Radio, TV and Communication equipment sector and the Electrical machinery and apparatus sector. Lower sales were also registered by the Wearing apparel and clothes, the Furniture and manufacturing n.e.c., and the other transport equipment sectors.

Higher sales during the first quarter 2008 were registered by the Chemicals and chemical products, Food and Beverages, and Other nonmetallic mineral products sectors.

Export-oriented enterprises generated €429.8 million or 79.7 per cent of the total sales.

Employment, Wages and Salaries - In the first quarter this year, employment in the sampled enterprises declined by 679 employees to 17,565 from 18,244 in the same period last year.

Lower employment levels were recorded mainly in the Wearing apparel and Clothes sector and the Radio, TV and Communication equipment sector, with a decrease of 643 and 294 employees respectively.

Increases in employment were mainly recorded in the Chemicals and chemical products sector and the Food and Beverages sector, with 108 and 86 employees respectively.

In the period under review an amount of €71.6 million was paid out in gross wages and salaries by the sampled enterprises.

Investment - During the January-March quarter, overall investment in the sampled enterprises amounted to €39.4 million, a decrease of €15.5 million when compared to the first quarter of 2007.