A robust expansion in the extraction of crude petroleum and natural gas as well as in the production of beverages, food products and chemicals helped Qatar report an impressive 10.4% year-on-year growth in industrial production in November 2022, according to the latest official data.
However, the country’s IPI, or industrial production index, witnessed a 1.7% decline month-on-month in the review period, according to figures released by the Planning and Statistics Authority (PSA).
The PSA introduced IPI, a short-term quantitative index that measures the changes in the volume of production of a selected basket of industrial products over a given period with respect to a base period 2013.
The mining and quarrying index, which has a relative weight of 82.46%, saw a 12.2% surge on a yearly basis owing to a 12.2% increase in the extraction of crude petroleum and natural gas and 10% in other mining and quarrying sectors.
On a monthly basis, the index shrank 1.4% on account of a 1.4% contraction in the extraction of crude petroleum and natural gas, even as other mining and quarrying sectors saw a 2.3% jump in the review period.
Electricity, which has a 1.16% weight in the IPI basket, saw its index zoom 51.9% year-on-year but shrank 2.5% month-on-month in November 2022.
In the case of water, which has a 0.53% weight, the index saw a 50% increase on an annualised basis but was down 0.3% on monthly basis in November 2022.
However, the manufacturing index, with a relative weight of 15.85%, was marginally down 0.6% year-on-year in November 2022 owing to a 17.8% contraction in the production of cement and other non-metallic mineral products, 9.1% in printing and reproduction of recorded media, 6.2% in basic metals and 0.4% in refined petroleum products in the review period.
Nevertheless, there was a 16% increase in the production of beverages, 7.6% in food products, 3.4% in chemicals and chemical products and 0.5% in rubber and plastics products.
On a monthly basis, the manufacturing index fell faster at 3.2% owing to a 9.8% plunge in the production of refined petroleum products, 4.2% in chemicals and chemical products and 4.1% in cement and other non-metallic mineral products in November 2022.
However, there was an 8.7% jump in the production of basic metals, 4.1% in rubber and plastics products, 2.4% in food products and 0.8% in beverages in the review period.