Qatar's Industrial Production Index Shows 5.5% Year-on-Year Surge in January 2024

Qatar, 23 March, 2024 : In January 2024, Qatar's Industrial Production Index (IPI) surged by 5.5% year-on-year, reaching 108.7 points, indicating growth across various sectors. The sectors with notable increases included "Mining and quarrying" by 82.46%, "Manufacturing" by 15.85%, "Electricity, gas, steam, and air conditioning supply" by 1.16%, and "Water supply" by 0.53%.

The Planning and Statistics Authority released the press release, calculating the IPI using 2018 as the base year. This index provides insights into the growth of different industrial sectors, with varying relative weights. It serves as a short-term quantitative measure reflecting changes in the volume of industrial production over a given period.

In the Mining sector, the index rose by 4.9% compared to December 2023, driven by increased quantities of "crude oil petroleum and natural gas." However, "Other mining and quarrying" witnessed a decrease of 6.0%. Compared to January 2023, the Mining sector's IPI increased by 7.6%.

In Manufacturing, there was a 0.6% decrease compared to December 2023, with declines in sectors like "Manufacture of beverages" and "Manufacture of basic metals." Yet, there were increases in sectors such as "Manufacture of rubber and plastics products" and "Manufacture of refined petroleum products." Annually, Manufacturing recorded a decrease of 5.7%.

The Electricity, gas, and supply sector saw a 2.6% decrease in electricity production compared to December 2023 but a 7.0% increase compared to January 2023. In the Water Supply sector, there was a 0.9% decrease in water production compared to the previous month.

Source : www.zawya.com