• 1.7% monthly decrease in General IPI.
• 1.4% monthly decrease in IPI of Mining sector.
• 3.2% monthly decrease recorded in IPI of manufacturing sector.
Planning and Statistics Authority has issued a new version of press release of industrial production index for November 2022, 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), November 2022 reached to 97.3 points decreased by 1.7% compared to the previous month (October 2022), and increased by 10.4%, when compared to the corresponding month in 2021.
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 1.4% compared to the previous month (October 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 2.3%.
When compared to the corresponding month of the previous year (November 2021), the IPI of Mining increased by 12.2%.
2. “Manufacturing”: The index of this sector showed a decrease by 3.2% compared to the previous month (October 2022), The groups showed a decrease include: “Manufacture of refined petroleum products” by 9.8%, followed by “Manufacture of chemicals and chemical products" by 4.2%, and “Manufacture of Cement and other non-metallic mineral products” by 4.1%. However, an increase was recorded in, “Manufacture of basic metals” by 8.7%, “Manufacture of rubber and plastics products” by 4.1%, “Manufacture of food products” by 2.4%, and “Manufacture of beverages" by 0.8%. No change noticed in “Printing and reproduction of recorded media’’.
On the other hand, in terms of annual change, comparing to November 2021, a decrease of 0.6% was recorded, and that due to the decrease in “Manufacture of Cement & other non-metallic mineral products" by 17.8%, followed by ‘’Printing and reproduction of recorded media’’ by 9.1%, “Manufacture of basic metals” by 6.2%, “Manufacture of rubber and plastics products” by 0.5%, and “Manufacture of refined petroleum products” by 0.4%. However, an increase recorded in “Manufacture of beverages" by 16.0%, “Manufacture of food products” by 7.6%, and “Manufacture of chemicals and chemical products” by 3.4%.
3. “Electricity, gas, supply”: A decrease of 2.5% was noticed in the production of “Electricity” between November 2022 and the previous month (October 2022). Comparing with corresponding month (November 2021), an increase of 51.9% was recorded.
4. “Water Supply”: A decrease of 0.3% was noticed in the production of ‘'Water'' between November 2022 and the previous month (October 2022). Comparing with corresponding month (November 2021), an increase of 50.0% was recorded.
