Robust extraction of hydrocarbons and strengthened manufacturing sector helped Qatar witness its industrial production scale up year-on-year in December 2019, according to the official estimates.
The country’s Industrial Production Index (IPI) witnessed a 1.9% and 5.3% expansion year-on-year and month-on-month respectively in December 2019, said 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 83.6%, saw a 1.9% expansion year-on-year on account of 2% increase in the extraction of crude petroleum and natural gas, while there was a 10.1% decline in other mining and quarrying sectors.
On a monthly basis, the index showed a 5.8% surge owing to a 5.9% jump in the extraction of crude petroleum and natural gas; even as other mining and quarrying sectors witnessed a 2% contraction.
The manufacturing index, with a relative weight of 15.2%, showed a 2.3% yearly increase in December 2019 on a 16.4% rise in the manufacture of basic metals, 10.1% in beverages, 2.7% in chemical and chemical products, 0.8% in food products and 0.4% in printing and reproduction of recorded media.
Nevertheless, there was an 8.9% decline in the manufacture of cement and other non-metallic mineral products, 5.4% in refined petroleum products and 2.1% in rubber and plastics products.
On a monthly basis, the manufacturing index shot up 3.4% owing to a 7.1% increase in the manufacture of chemicals and chemical products and 1.1% in food products; whereas there was a 4.5% shrinkage in the manufacture of basic metals, 2.3% in beverages, 2.2% in refined petroleum products, 1.8% in rubber and plastics products and 0.1% in cement and other non-metallic mineral products.
Electricity, which has 0.7% weight in the IPI basket, saw its index plummet 15.3% and 15% on yearly and monthly basis respectively in December 2019.
In the case of water, which has a 0.5% weight, there was a 9.5% and 5% decrease year-on-year and month-on-month respectively last December.
LEAVE A COMMENT Your email address will not be published. Required fields are marked*
Saudi-Russia oil price war: Will it script the end of Opec?
Operational readiness is key to business continuity, says business council official
Turkey widens emergency response with bond buying
QSE settles above 8,200 levels despite bearish sentiments
Asian bourses enjoy gains after Wall Street rally, but nerves remain
Options markets bet Indonesian rupiah will fall to a record
Indonesia rolls out $25bn more spending
China’s factory activity unexpectedly expands
Singapore banks set to freeze mortgage, SME loan payments