Qatar's industrial production rose 1.6% year-on-year in July 2023 on faster extraction of hydrocarbons and higher growth in certain non-oil sectors such as beverages and food products, according to official data.
The country's industrial production index (IPI), shot up 2.2% on a monthly basis in the review period, according to the 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%, zoomed 2.1% on a yearly basis on a 2.1% increase in the extraction of crude petroleum and natural gas, even as other mining and quarrying sectors shrank 3.3%.
On a monthly basis, the sector index was seen gaining 2.2% owing to a 2.2% surge in the extraction of crude petroleum and natural gas, whereas other mining and quarrying sectors plummeted 4.8% in the review period.
However, the manufacturing index, with a relative weight of 15.85%, shrank 1.4% year-on-year this July as there was a 9.1% plunge in printing and reproduction of recorded media, 7.1% in refined petroleum products, 5.9% in rubber and plastics products, and 4.1% in cement and other non-metallic mineral products.
Nevertheless, there was a 5.2% jump in the production of beverages, 2.9% in food products, 0.9% in basic metals and 0.1% in chemicals and chemical products in the review period.
On a monthly basis, the manufacturing index shot up 1.4% in July 2023 owing to 4.5% increase in the production of refined petroleum products, 4.1% in basic metals, 3.9% in rubber and plastics products, 1.3% in beverages and 1% in chemicals and chemical products. However, there was a 5.3% decline in the production of cement and other non-metallic mineral products in the review period.
Electricity, which has a 1.16% weight in the IPI basket, saw its index surge 4.3% and 13.1% year-on-year and month-on-month respectively in July 2023.
In the case of water, which has a 0.53% weight, the index was seen expanding 0.7% and 0.4% % on annual and monthly basis respectively in the review period.