• 1.2% monthly increase in General IPI.
• 0.6% monthly increase in IPI of Mining sector.
• 4.4% monthly increase recorded in IPI of manufacturing sector.
Planning and Statistics Authority has issued a new version of press release of industrial production index for August 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), August 2022 reached to 105.8 points increased by 1.2% compared to the previous month (July 2022), and by 7.3%, when compared to the corresponding month in 2021. Graph (1) illustrates the time series of the IPI and monthly rates of change since August of 2021 until August of 2022, and table (1) shows the monthly and annual comparison of the Industrial Production Index August 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 0.6% compared to the previous month (July 2022), because of the increase in the quantities of "crude oil petroleum and natural gas" with the same percentage, while “Other mining and quarrying" decreased by 2.7%.
When compared to the corresponding month of the previous year (August 2021), the IPI of Mining increased by 7.3%. Graphs (2) explains the trends of monthly IPI in the mining sector during August 2021 until August 2022.
2. “Manufacturing”: The index of this sector showed an increase by 4.4% compared to the previous month (July 2022), The groups showed an increase include: “Manufacture of chemicals and chemical products" by 6.8%, followed by “Manufacture of food products” by 6.2%, “Manufacture of refined petroleum products” by 5.4%, “Printing and reproduction of recorded media’’ by 3.2%, “Manufacture of beverages" by 2.3%, and “Manufacture of rubber and plastics products” by 0.8%. However, a decrease was recorded in “Manufacture of basic metals” by 2.1%. No change noticed in “Manufacture of Cement and other non-metallic mineral products”.
On the other hand, in terms of annual change, comparing to August 2021, an increase of 7.1% was recorded, and that due to the increase in “Manufacture of refined petroleum products” by 20.4%, “Manufacture of chemicals and chemical products” by 12.6%, “Manufacture of rubber and plastics products” by 10.6%, “Manufacture of food products” by 10.3%, and “Manufacture of beverages" by 4.1%. However, a decrease recorded in “Manufacture of basic metals” by 12.4%, “Manufacture of Cement & other non-metallic mineral products" by 12.0%, and ‘’Printing and reproduction of recorded media’’ by 9.1%. Graph (3) shows the trend of IPI of manufacturing sector during August of 2021 until August of 2022.
3. “Electricity, gas, supply”: An increase of 2.8% was noticed in the production of “Electricity” between August 2022 and the previous month (July 2022). Comparing with corresponding month (August 2021), an increase of 5.0% was recorded. The Graph (4) shows IPI of “Electricity Supply” sectors, during August of 2021 until August of 2022.
4. “Water Supply”: A decrease of 1.2% was noticed in the production of ‘'Water'' between August 2022 and the previous month (July 2022). Comparing with corresponding month (August 2021), an increas
5. of 27.5% was recorded. The Graph (5) shows IPI of “Water Supply” sectors, during August of 2021 until August of 2022.
