Doha,
The Industrial Production index (IPI) for February 2024 reached 99.1 points, an 8.2 percent decrease compared to the previous month (January 2024), whereas increased by 0.4 percent, when compared to the corresponding month in 2023.
This indicator reflects the growth of details of the growth of the various industrial economic sectors that make up it, with a different relative weight they have, such “Mining and quarrying” 82.46 percent, “Manufacturing” 15.85 percent, “Electricity, gas, steam, and air conditioning supply” 1.16 percent, and “Water supply” 0.53 percent.
Issued on Tuesday by the Planning and Statistics Authority, the IPI figures for February 2024 indicate that the “Mining” index showed a decrease by 9.5 percent compared to —the previous month (January 2024), —due to the decrease in the quantities of “crude oil petroleum and natural gas” with the same percentage, while “Other mining and quarrying” increased by 2.1 percent.
When compared to the corresponding month of the previous year (February 2023), the IPI of Mining increased by 1.0 percent, due to the increase in the quantities of “crude oil petroleum and natural gas” with the same percentage, while “Other mining and quarrying” decreased by 7.7 percent.
The “Manufacturing” index showed a decrease by 0.1 percent compared to the previous month (January 2024), The groups showed a decrease include: “Manufacture of refined petroleum products” by 14.3 percent, followed by “Manufacture of beverages” by 6.2 percent, “Manufacture of Cement and other non-metallic mineral products”, and “Manufacture of basic metals” by 3.7 percent each, and “Manufacture of rubber and plastics products” by 0.1 percent. However, an increase was recorded in, “Manufacture of food products” by 5.0 percent, “Manufacture of chemicals and chemical products “by 4.8 percent. and “Printing and reproduction of recorded media” by 4.7 percent.
On the other hand, in terms of annual change, comparing to February 2023, a decrease of 3.1 percent was recorded, due to the decrease in “Manufacture of basic metals” by 21.9 percent, followed by “Manufacture of refined petroleum products” by 17.2 percent, Printing and reproduction of recorded media.” By 9.1 percent, “Manufacture of rubber and plastics products” by 5.0 percent, “Manufacture of beverages” by 3.8 percent, and “Manufacture of Cement & other non-metallic mineral products” by 0.7 percent.
However, an increase was recorded in “Manufacture of chemicals and chemical products” by 5.3 percent, and “Manufacture of food products” by 2.9 percent.
As for “Electricity, gas, supply” a decrease of 11.1 percent was noticed in the production of “Electricity” between February 2024 and the previous month (January 2024). Compared with the corresponding month (February 2023), a decrease of 3.0 percent was recorded.
When it comes to “Water Supply” a decrease of 9.5 percent was noticed in the production of ‘Water between February 2024 and the previous month (January 2024). Compared with the corresponding month (February 2023), an increase of 8.5 percent was recorded. (QNA)
