- 3.9% Monthly increase in General IPI.
- 5.0% Monthly increase 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 December 2023, calculated using 2018 as a base year. This indicator reflects the growth of details of the growth of the various industrial economic sectors that make up it, with a different relative weights they have , such “Mining and quarrying” 82.46%, “Manufacturing” 15.85%, “Electricity, gas, steam, and air conditioning supply” 1.16%, and “Water supply” 0.53%. It is also 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), December 2023 reached 95.3 points increased by 3.9% compared to the previous month (November 2023), and decreased by 4.2%, 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 5.0% compared to the previous month (November 2023), due to increase in the quantities of "crude oil petroleum and natural gas" with the same percentage, and “Other mining and quarrying" increased by 2.1%.
When compared to the corresponding month of the previous year (December 2022), the IPI of Mining decreased by 4.5% 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 3.8%.
2. “Manufacturing”: The index of this sector showed an increase by 0.1% compared to the previous month (November 2023), The groups showed an increase include: “Manufacture of food products” by 1.9%, followed by “Manufacture of Cement and other non-metallic mineral products” by 0.8%, “Manufacture of chemicals and chemical products “by 0.6%, “Manufacture of rubber and plastics products” by 0.3%, and “Manufacture of beverages" by 0.2%. However, a decrease was recorded in “Manufacture of refined petroleum products” by 1.3%, and “Manufacture of basic metals” by 0.9%. No change noticed in the group “Printing and reproduction of recorded media”.
On the other hand, in terms of annual change, comparing to December 2022, a decrease of 2.4% was recorded, due to the decrease in ‘’Printing and reproduction of recorded media’’ by 9.1%, followed by “Manufacture of basic metals” by 8.6%, “Manufacture of rubber and plastics products” by 8.3%, “Manufacture of refined petroleum products” by 4.9%, “Manufacture of food products” by 3.1%, “Manufacture of beverages" by 2.1%, “Manufacture of Cement & other non-metallic mineral products" by 0.3%, and “Manufacture of chemicals and chemical products” by 0.1%.
3. “Electricity, gas, supply”: A decrease of 13.5% was noticed in the production of “Electricity” between December 2023 and the previous month (November 2023). Compared with the corresponding month (December 2022), a decrease of 7.3% was recorded.
4. “Water Supply”: An increase of 4.3% was noticed in the production of ‘'Water’ between December 2023 and the previous month (November 2023). Compared with the corresponding month (December 2022), a decrease of 9.8% was recorded.
