Planning and Statistics Authority has issued a new version of press release of industrial production index for January 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), January 2023 reached to 103 points increased by 3.5% compared to the previous month (December 2022), and decreased by 2.1%, 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 4.1% compared to the previous month (December 2022), because of the decrease in the quantities of "crude oil petroleum and natural gas" with the same percentage, while “Other mining and quarrying" increased by 1.7%.
When compared to the corresponding month of the previous year (January 2022), the IPI of Mining decreased by 3.3% .
2. “Manufacturing”: The index of this sector showed an increase by 2.4% compared to the previous month (December 2022), The groups showed an increase include: “Manufacture of chemicals and chemical products" by 3.3%, followed by “Manufacture of refined petroleum products” by 3.1%, “Manufacture of basic metals” by 2.5%, and “Printing and reproduction of recorded media’’ by 0.6%. However, a decrease was recorded in, “Manufacture of beverages" by 9.7%, followed by “Manufacture of Cement and other non-metallic mineral products” by 3.3%, “Manufacture of rubber and plastics products” by 2.6%, and “Manufacture of food products” by 0.1%.
On the other hand, in terms of annual change, comparing to January 2022, an increase of 3.8% was recorded, due to the increase in “Manufacture of refined petroleum products” by 18.1%, followed by “Manufacture of chemicals and chemical products” by 4.8%, and “Manufacture of beverages" by 3.5%. However, a decrease recorded in “Manufacture of Cement & other non-metallic mineral products" by 13.4%, ‘’Printing and reproduction of recorded media’’ by 9.1%, “Manufacture of rubber and plastics products” by 4.6%, “Manufacture of food products” by 0.8%, and “Manufacture of basic metals” by 0.3%.
3. “Electricity, gas, supply”: A decrease of 15.6% was noticed in the production of “Electricity” between January 2023 and the previous month (December 2022). Comparing with corresponding month (January 2022), an increase of 7.1% was recorded.
4. “Water Supply”: A decrease of 17.6% was noticed in the production of ‘'Water'' between January 2023 and the previous month (December 2022). Comparing with corresponding month (January 2022), an increase of 2.7% was recorded.
