A robust secondary sector performance helped Qatar’s industrial production gain traction this February on a yearly basis, according to the official estimates.
The country's Industrial Production Index (IPI) reported a 2% increase year-on-year in the review period, said the figures released by the Ministry of Development Planning and Statistics (MDPS).
Nevertheless, lower extraction of crude and slowdown in the manufacturing of basic metals, chemicals, cement and rubber led to a 2.5% decline in IPI in February 2018 on a monthly basis.
The ministry 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 83.6%, reported a 1.4% jump year-on-year in February 2018 owing to a 9.7% increase in other mining and quarrying and 1.4% in the extraction of crude petroleum and natural gas.
On a monthly basis, the index showed a 1.9% fall as the extraction of crude petroleum and natural gas declined 1.9% and other mining and quarrying by a higher 3%.
The manufacturing index, with a relative weight of 15.2%, showed a 5.7% surge year-on-year this February on account of a 27.2% expansion in the manufacture of food products, 16.2% in rubber and plastics, 10.1% in refined petroleum products, 6.6% in chemicals and chemical products, 5.1% in beverages and 3.6% in printing and reproduction of recorded media; even as there was a 4.8% decline in the manufacture of basic metals and 0.3% in cement and other non-metallic mineral products.
On a monthly basis, the manufacturing index plummeted 5.3% owing to a 7.8% contraction in the manufacture of basic metals, 6.7% in chemicals and chemical products, 6.6% in cement and other non-metallic mineral products, 4.4% in printing and reproduction of recorded media, 2.5% in rubber and plastics, 1.8% in beverages and 1% in food products; whereas there was 1.2% increase in the manufacture of refined petroleum products.
Electricity, which has 0.7% weight in the IPI basket, saw a 5.5% expansion on a yearly basis but reported an 11.4% drop on a monthly basis. In the case of water, which has a 0.5% weight, there was 3.8% and 7.8% shrinkage year-on-year and month-on-month basis respectively.