Basic goods production faces no obstacles, says CZ...

Basic goods production faces no obstacles, says CZI

Zim Now Writer

The President of the Confederation of Zimbabwe Industries, Kurai Matsheza, has also affirmed that they have not faced any obstacles hindering the production of essential goods.

He emphasised that manufacturers are actively engaged in ensuring the continuous supply of goods to retailers and the market, indicating that any potential challenges might lie elsewhere, such as with retailers, rather than within the manufacturing sector.

Meanwhile, the Zimbabwe National Statistics Agency has revealed that local products manufacturing output has increased by 12.2% in 2023.

The shelf-space occupancy of locally produced products also increased from 55% in 2021 to over 80% in 2022 with exports of manufactured products also increasing by 12.9% from US$324 million in 2021 to US$366 million in 2022.

In a recent report, ZimStat pointed out that the Volume of Manufacturing Index for the Fourth Quarter of 2023 increased by 12.2% when compared to 127.5% recorded in the fourth quarter of 2022.

The Fourth quarter 2023 Volume of Manufacturing Index was 143.15, reflecting a year-on-year percentage increase of 12.26 when compared to 127.51 recorded in 4th quarter 2022 Quarter-on-quarter analysis reflects a 4.81 percent increase from 136.58% in 3rd quarter 2023.

“The average output index for the Food Stuffs Sub-sector for the 4th quarter of 2023 was 132.47, reflecting 7.86% in production when compared to 122.82 recorded in the 4th quarter of 2022.

“The quarter-on-quarter analysis shows an increase of 1.57% from 130.42 in the third quarter 2023.

“On a sectoral basis, the Drinks, Beverages and Tobacco Subsector production index for 4th quarter 2023 was 188.58. The year-on-year index increased by 32.15% from 142.71 recorded in 4th quarter 2022.

“Quarter-on-quarter analysis reflects an increase of 16.78 percent from 161.48 in third quarter 2023,” reads the report.

The Textiles and Ginning Subsector recorded an output index of 62.13 during the period compared to 97.76 in the fourth quarter of 2022, resulting in a year-on-year percentage decrease in the index of 36.44.

The quarter-on-quarter comparison shows a 34.31 percentage decrease from 94.58 in the third quarter of 2023.

The Fourth quarter 2023 output index for the Clothing and Footwear subsector was 119.08, translating to a year-on-year percentage increase of 12.08 from 106.24 recorded during the period.

An upward trajectory was maintained throughout the subsectors signifying some degree of improvement across the economy.