- 9.3% monthly decrease in General IPI.
- 11.1% monthly decrease in IPI of Mining sector.
- 0.1% Monthly increase in IPI of Manufacturing sector.
The Planning and Statistics Authority has issued the press release of industrial production index for October 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 and quarrying” 82.46%, “Manufacturing” 15.85%, “Electricity, gas, steam, and air conditioning supply” 1.16%, “Water supply” 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), October 2023 reached 93.1 points decreased by 9.3% compared to the previous month (September 2023), and decreased by 6.0%, 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 a decrease by 11.1% compared to the previous month (September 2023), due to the decrease in the quantities of "crude oil petroleum and natural gas" with the same percentage, while “Other mining and quarrying" increased by 1.9%.
When compared to the corresponding month of the previous year (October 2022), the IPI of Mining decreased by 7.1% due to the decrease in the quantities of "crude oil petroleum and natural gas" with the same percentage, and “Other mining and quarrying" decreased by 3.6%.
2. “Manufacturing”: The index of this sector showed an increase by 0.1% compared to the previous month (September 2023), The groups showed an increase include: “Manufacture of Cement and other non-metallic mineral products” by 4.3%, followed by “Printing and reproduction of recorded media’’ by 3.2%, and “Manufacture of refined petroleum products” by 2.8%. However, a decrease was recorded in “Manufacture of rubber and plastics products” by 3.0%, followed by “Manufacture of beverages" by 1.5%, “Manufacture of basic metals” by 1.2%, “Manufacture of food products” by 0.8%, and “Manufacture of chemicals and chemical products “by 0.7%.
On the other hand, in terms of annual change, comparing to October 2022, a decrease of 1.5% was recorded, due to the decrease in ‘’Printing and reproduction of recorded media’’ by 9.1%, “Manufacture of refined petroleum products” by 6.7%, “Manufacture of food products” by 4.8%, “Manufacture of rubber and plastics products” by 3.3%, “Manufacture of chemicals and chemical products” by 2.9%, and “Manufacture of Cement & other non-metallic mineral products" by 2.2%. However, an increase recorded in “Manufacture of basic metals” by 13.4%, and “Manufacture of beverages" by 3.8%.
3. “Electricity, gas, supply”: A decrease of 9.5% was noticed in the production of “Electricity” between October 2023 and the previous month (September 2023). Comparing with the corresponding month (October 2022), an increase of 1.6% was recorded.
4. “Water Supply”: An increase of 2.0% was noticed in the production of ‘'Water’ between October 2023 and the previous month (September 2023). Compared with the corresponding month (October 2022), a decrease of 1.9% was recorded.
