- 14.6% monthly increase in General IPI.
- 16.9% monthly increase in IPI of Mining sector.
- 5.4% monthly increase recorded in IPI of manufacturing sector.
Planning and Statistics Authority has issued a press release for March 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), March 2022 reached to 101.2 points increased by 14.6% compared to the previous month (February 2022), and by 0.5%, when compared to the corresponding month in 2021. Graph (1) illustrates the time series of the IPI and monthly rates of change since March of 2021 until March of 2022.
The analysis of the monthly IPI of the above activities as follows:
1. “Mining”: The index of this sector showed an increase by 16.9% compared to the previous month (February 2022), as a result of the increase in the quantities of "crude oil petroleum and natural gas" by 16.9%, while "Other mining and quarrying" remind flat. When compared to the corresponding month of the previous year (March 2021), the IPI of Mining increased by 0.3%.
2. “Manufacturing”: The index of this sector showed an increase by 5.4% compared to the previous month (February 2022), The groups showed an increase include: “Manufacture of refined petroleum products” by 9.5%, followed by “Manufacture of chemicals and chemical products" by 6.1%, “Manufacture of food products” by 2.7%, and “Manufacture of beverages" by 0.7%. However, a decrease was recorded in “Manufacture of Cement and other non-metallic mineral products” by 1.5%. No change noticed in “Printing and reproduction of recorded media’’, “Manufacture of rubber and plastics products”, and “Manufacture of basic metals”.
On the other hand, in terms of annual change, comparing to March 2021, an increase of 3.1% was recorded, because of the increase in “Manufacture of refined petroleum products” increased by 27.7%, and “Manufacture of chemicals and chemical products” by 2.5%. However, a decrease recorded in “Manufacture of Cement & other non-metallic mineral products" by 17.2%, followed by ‘’Printing and reproduction of recorded media’’ by 25.8%, “Manufacture of basic metals” by 8.3%, “Manufacture of rubber and plastics products” by 6.7%, “Manufacture of food products” and “Manufacture of beverages" by 2.6% each.
3. “Electricity”: An increase of 2.7% was noticed in the production of “Electricity” between March 2022 and the previous month (February 2022). Comparing with corresponding month (March 2021), a decrease of 28.8% was recorded.
4. “Water”: An increase of 2.8% was noticed in the production of ‘'Water'' between March 2022 and the previous month (February 2022). Comparing with corresponding month (March 2021), a decrease of 16.6% was recorded.
