- 1.5% Monthly decrease in General IPI.
- No monthly change in IPI of Mining sector.
- 5.2% Monthly decrease in IPI of Manufacturing sector.
The Planning and Statistics Authority has issued the press release of industrial production index for November 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), November 2023 reached 91.7 points decreased by 1.5% compared to the previous month (October 2023), and decreased by 5.8%, 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 remained flat compared to the previous month (October 2023), due to stability in the quantities of "crude oil petroleum and natural gas", while “Other mining and quarrying" increased by 1.9%.
When compared to the corresponding month of the previous year (November 2022), the IPI of Mining decreased by 5.7% 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 7.6%.
2. “Manufacturing”: The index of this sector showed a decrease by 5.2% compared to the previous month (October 2023), The groups showed a decrease include: “Manufacture of basic metals” by 9.0%, followed by “Manufacture of beverages" by 7.1%, “Printing and reproduction of recorded media’’ by 5.7%, “Manufacture of refined petroleum products” by 5.6%, “Manufacture of chemicals and chemical products “by 5.2%, “Manufacture of rubber and plastics products” by 2.6%, and “Manufacture of food products” by 2.5%. However, an increase was recorded in “Manufacture of Cement and other non-metallic mineral products” by 0.3%.
On the other hand, in terms of annual change, comparing to November 2022, a decrease of 3.5% was recorded, due to the decrease in “Manufacture of rubber and plastics products” by 9.5%, ‘’Printing and reproduction of recorded media’’ by 9.1%, “Manufacture of food products” by 8.8%, “Manufacture of basic metals” by 5.0%, “Manufacture of beverages" by 4.3%, “Manufacture of chemicals and chemical products” by 3.9%, and “Manufacture of refined petroleum products” by 2.4%. However, an increase recorded in “Manufacture of Cement & other non-metallic mineral products" by 2.4%.
3. “Electricity, gas, supply”: A decrease of 30.5% was noticed in the production of “Electricity” between November 2023 and the previous month (October 2023). Compared with the corresponding month (November 2022), a decrease of 27.6% was recorded.
4. “Water Supply”: A decrease of 8.3% was noticed in the production of ‘'Water’ between November 2023 and the previous month (October 2023). Compared with the corresponding month (November 2022), a decrease of 9.8% was recorded.
