Ayesha Nyanzunda
The Zimbabwe National Statistics Agency (ZimStats) says the Volume of Manufacturing Index (VMI) for 2024 seconds increased by 19.0%.
Volume of the manufacturing index (VMI) is an economic indicator that shows relative changes in the volume of output in the manufacturing sector over time, in relation to a given reference period.
The index compilation is in line with the United Nations’ International Recommendations for the Index of Industrial Production (IRIIP), 2010.
“The Volume of Manufacturing Index (VMI) for 2nd quarter 2024 was 135.24, reflecting a year-on- year percentage increase of 19.0 when compared to 113.65 recorded in 2nd quarter 2023,” said ZimStat in a Volume of Manufacturing Index 2nd Quarter 2024 report.
The output index for food stuffs for 2nd quarter 2024 was 116.25, reflecting a 2.32 percent increase in production when compared to 113.55 for 2nd quarter 2023.
The Drinks, Beverages and Tobacco production index for 2nd quarter 2024 was 191.39. The year-on-year index increased by 45.53 percent from 131.51 recorded in 2nd quarter 2023.
The index for non-metallic mineral products was 128.94 recorded in the 2nd quarter of 2023. (Figure was 164.92 for 2nd quarter 2024, depicting a 1.8) 27.90 percent year-on-year increase from 164.92.