Venezuelan workers at a dairy processing facility. File photo.
On Wednesday, November 30, the ultra-conservative Venezuelan Confederation of Industrialists (Conindustria) informed that during the third quarter of the year 2022, the use of the installed capacity of the Venezuelan manufacturing sector was reported at 38.5%.
The president of Conindustria, Luigi Pisella, noted that this represents an increase of 13.6 points in this sector as compared with the same period in 2021.
In 2021, the operation of the industrial sector in the country stood at 24.9%, according to the industrial survey presented this Wednesday by Conindustria.
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The chemical and pharmaceutical industry has grown by 41%, wood and paper 38%, and food and beverage 35%. These sectors showed a significant rebound in this year.
Capacidad utilizada de la manufactura se ubicó en 38.5%: “La industria venezolana requiere ser más competitiva”@LuigiPisella, presidente de Conindustria, presentó los resultados de la Encuesta de Coyuntura Industrial del 3er Trimestre de 2022https://t.co/cVePAhqdmK pic.twitter.com/aqR5WcILyy
— Conindustria (@Conindustria) November 30, 2022
Pisella said that industrial operation also registered an increase of 7.5 points compared to the second quarter of this year, a period in which the industry operated at 31%.
The study revealed that 65% of the 146 business-owners who responded to the survey said that their production increased in the third quarter of the year as compared with the same period in 2021, while 10% said that it remained the same and 24% that it decreased. Pisella did not reveal what the remaining 1% reported.
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Pisella said that 36% of the industrialists reported that they exported, while the remaining 64% did not.
Additionally, the study indicates that 38% consider that the economic situation of the country has improved in the last year, and 74% expect that it will improve within 12 months.
The businesses reported that the main factors that continue to affect industrial activity are competition from imported products, taxes, lack of financing, low national demand, and the precariousness of public services (electricity, water, telephone and internet).
52% of those surveyed stated that loans and lines of credit could be part of the credit alternatives that they could use to become more efficient and to increase production.
(RedRadioVE) by Ana Perdigón
Translation: Orinoco Tribune
OT/JRE/AU
