- 4.2% monthly increase in General IPI.
- 5.0% monthly increase in IPI of Mining sector.
- 0.4% monthly decrease recorded in IPI of manufacturing sector.
Planning and Statistics Authority has issued a new version of the press release of industrial production index for June 2023, calculated using 2018 as a base year. By changing the base year, the relative weight of main economic sectors under this indicator are changed also, therefore “Mining” 82.46%, “Manufacturing” 15.85%, “Electricity production” 1.16%, “Water production” 0.53%. This indicator is a short-term quantitative index that measures the changes in the volume of productions of a selected basket of industrial products over a given period with respect to that in a chosen period called the base period, it studies and analysis the economic level of the state, and the growth of various industrial sectors in economy index details.
The Industrial Production index (IPI), June 2023 reached 103.9 points increased by 4.2% compared to the previous month (May 2023), and increased by 4.2%, when compared to the corresponding month in 2022.
Details of the press release for the sectors that make up the industrial production index:
1.“Mining”: The index of this sector showed an increase by 5.0% compared to the previous month (May 2023), because of the increase in the quantities of "crude oil petroleum and natural gas" with the same percentage, while “Other mining and quarrying" decreased by 1.1%.
When compared to the corresponding month of the previous year (June 2022), the IPI of Mining increased by 5.3%.
2.“Manufacturing”: The index of this sector showed a decrease by 0.4% compared to the previous month (May 2023), The groups showed a decrease include: “Manufacture of basic metals” by 5.8%, followed by “Printing and reproduction of recorded media’’ by 4.3%, “Manufacture of food products” by 1.0%, and “Manufacture of chemicals and chemical products" by 0.9%. However, an increase was recorded in “Manufacture of refined petroleum products” by 6.5%, “Manufacture of beverages" by 4.7%, “Manufacture of rubber and plastics products” by 2.7%, and “Manufacture of Cement and other non-metallic mineral products” by 0.1%.
On the other hand, in terms of annual change, comparing to June 2022, a decrease of 1.1% was recorded, due to the decrease in “Manufacture of rubber and plastics products” by 11.3%, ‘’Printing and reproduction of recorded media’’ by 9.1%, “Manufacture of refined petroleum products” by 6.3%, “Manufacture of Cement & other non-metallic mineral products" by 5.6%, and “Manufacture of basic metals” by 2.7%. However, an increase recorded in “Manufacture of food products” by 4.1%, “Manufacture of chemicals and chemical products” by 1.8%, and “Manufacture of beverages" by 0.4%.
3.“Electricity, gas, supply”: An increase of 8.4% was noticed in the production of “Electricity” between June 2023 and the previous month (May 2023). Comparing with the corresponding month (June 2022), a decrease of 0.8% was recorded.
4.“Water Supply”: An increase of 2.1% was noticed in the production of ‘'Water'' between June 2023 and the previous month (May 2023). Compared with the corresponding month (June 2022), an increase of 2.1% was recorded.
