• 2.8% monthly increase in General IPI.
• 3.2% monthly increase in IPI of Mining sector.
• 0.5% monthly increase recorded in IPI of manufacturing sector.
The Planning and Statistics Authority has issued a new version of press release of industrial production index for April 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), April 2023 reached to 106.4 points increased by 2.8% compared to the previous month (March 2023), and increased 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 3.2% compared to the previous month (March 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 1.7%.
When compared to the corresponding month of the previous year (April 2022), the IPI of Mining increased by 1.5%, and the while “Other mining and quarrying" by 2.1%.
2. “Manufacturing”: The index of this sector showed an increase by 0.5% compared to the previous month (March 2023), The groups showed an increase include: “Manufacture of refined petroleum products” by 2.2%, followed by “Manufacture of basic metals” by 1.4%, “Manufacture of Cement and other non-metallic mineral products” by 0.2%, and “Manufacture of chemicals and chemical products" by 0.1%. However, a decrease was recorded in “Manufacture of food products” by 5.0%, “Manufacture of beverages" by 2.7%, “Printing and reproduction of recorded media by 2.5%, and “Manufacture of rubber and plastics products” by 2.3%.
On the other hand, in terms of annual change, comparing to April 2022, an increase of 6.5% was recorded, due to the increase in “Manufacture of chemicals and chemical products” by 13.6%, followed by “Manufacture of food products” by 12.0%, “Manufacture of basic metals” by 1.2%, and “Manufacture of beverages" by 0.1%. However, a decrease recorded in ‘’Printing and reproduction of recorded media’’ by 9.1%, “Manufacture of rubber and plastics products” by 8.1%, “Manufacture of refined petroleum products” by 4.1%, and “Manufacture of Cement & other non-metallic mineral products" by 3.4%.
3. “Electricity, gas, supply”: An increase of 6.1% was noticed in the production of “Electricity” between April 2023 and the previous month (March 2023). Compared with corresponding month (April 2022), a decrease of 14.9% was recorded. The Graph (4) shows IPI of “Electricity Supply” sectors, during April of 2022 until April of 2023.
4. “Water Supply”: An increase of 0.1% was noticed in the production of ‘'Water'' between April 2023 and the previous month (March 2023). Comparing with corresponding month (April 2022), a decrease of 2.7% was recorded.
