Planning and Statistics Authority has issued a press release for February 2022 of industrial production index to study and analyze the economic level of the state. This index details the growth of various industrial sectors in economy such as “Mining”, “Manufacturing”, “Electricity production”, and “Water production and desalination”. It 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.
The Industrial Production Index consists of three main components: "Mining" with a relative importance of 83.6%, "Manufacturing" with a relative importance of 15.2%, "Electricity" with a relative importance of 0.7%, and finally "Water" with a relative importance of 0.5%.
The Industrial Production index (IPI), February 2022 reached to 88.3 points decreased by 20.2% compared to the previous month (January 2022), and by 11.1%, when compared to the corresponding month in 2021.
The analysis of the monthly IPI of the above activities as follows:
1. “Mining”: The index of this sector showed a decrease by 23.2% compared to the previous month (January 2022), as a result of the decrease in the quantities of "crude oil petroleum and natural gas" by 23.2%, while "Other mining and quarrying" showed an increase by 9.6%. When compared to the corresponding month of the previous year (February 2021), the IPI of Mining decreased by 13.7%.
2. “Manufacturing”: The index of this sector showed a decrease by 4.3% compared to the previous month (January 2022), The groups showed a decrease include: “Manufacture of refined petroleum products” by 6.9%, followed by “Manufacture of beverages" by 6.3%, “Manufacture of Cement and other non-metallic mineral products” by 6.0%, ’Printing and reproduction of recorded media’’ by 5.8%, “Manufacture of food products” by 5.3%, “Manufacture of chemicals and chemical products" by 4.1%, “Manufacture of basic metals” by 1.8%, and “Manufacture of rubber and plastics products” by 0.9%.
On the other hand, in terms of annual change, comparing to February 2021, an increase of 2.3% was recorded, affected by the following groups: “Manufacture of food products” by 7.5%, “Manufacture of beverages" by 7.3%, “Manufacture of chemicals and chemical products” by 4.6%, and “Manufacture of refined petroleum products” by 3.1%. However, a decrease recorded in ‘’Printing and reproduction of recorded media’’ by 9.1%, followed by “Manufacture of Cement & other non-metallic mineral products" by 7.2%, “Manufacture of rubber and plastics products” by 6.1%, and “Manufacture of basic metals” by 6.0%.
3. “Electricity”: A decrease of 6.1% was noticed in the production of “Electricity” between February 2022 and the previous month (January 2022), Comparing with corresponding month (February 2021), a decrease of 1.9% was recorded.
4. “Water”: An increase of 0.4% was noticed in the production of ‘'Water'' between February 2022 and the previous month (January 2022). Comparing with corresponding month (February 2021), a decrease of 10.8% was recorded.
