Qatar's April Industrial Production Index Decreases by 3.1%

Qatar, 20 June, 2024 : Qatar's National Planning Council reported a 3.1% decline in the Industrial Production Index (IPI) for April 2024, using 2018 as the base year. The IPI reached 100.1 points, marking a 5.9% decrease compared to April 2023.

The "Mining and Quarrying" sector, which holds an 82.46% weight in the index, fell by 3.3% from March 2024 and 6.1% year-on-year due to reduced crude oil and natural gas production. The "Manufacturing" sector, with a 15.85% weight, saw a 2.5% decline from March 2024, driven by decreases in the manufacture of cement, basic metals, and food products. Annually, the sector dropped by 5%, with notable declines in basic metals and media reproduction.

The "Electricity, Gas, Steam, and Air Conditioning Supply" sector, contributing 1.16% to the index, decreased by 2.8% from March 2024 and 11.2% year-on-year. The "Water Supply" sector, holding a 0.53% weight, fell by 2.3% from March 2024 and 1.1% compared to April 2023.

These declines reflect broader challenges in Qatar's industrial sectors amidst ongoing economic fluctuations.

Source : www.zawya.com