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Oliver Kazunga, Senior Business Reporter
THE Confederation of Zimbabwe Industries (CZI) has deferred the release of its 2018 manufacturing industry survey report to January next year.
Traditionally, CZI releases its manufacturing sector survey report in October or November. CZI president, Mr Sifelani Jabangwe said:
“Due to the harmonised elections that were held in July, CZI delayed this year’s manufacturing sector survey but as we speak the survey is underway with the analysis of the data being carried out. We might launch it either first or second week of January”.
The CZI manufacturing sector survey analyses companies on a sector by sector basis, looking at the challenges they are facing, state of their machinery as well as the state of their capacity utilisation.
It seeks to ensure that representation of the companies is done sector by sector before a final report is released.
Mr Jabangwe expressed hope that the survey report will capture improvements despite challenges experienced end of September this year going forward.
CZI has projected that this year the average manufacturing capacity utilisation would grow by between 4,5 percent and six percent, reflecting a significant recovery from last year’s dip of 45,1 percent.
However, the trajectory would still be below 50 percent reflecting a huge variance with potential output, which tends to increase costs per unit. Mr Jabangwe said CZI was also working on the confidence index so that results of the manufacturing sector survey points to the real status of issues on the ground.
In 2017, the average capacity utilisation in the manufacturing sector was weighed down by cost and shortage of raw materials, low local demand and foreign currency shortages but volumes increased five percent.
Since dollarisation in 2009 industrial capacity utilisation recorded its highest at 57,2 percent in 2011, before sliding to 44,2 percent in 2012; 39,6 percent in 2013; 36,3 percent in 2014 and 34,3 percent in 2015.
— @okazunga
Online Reporter