A more-than-doubled average price in the hydrocarbons and a rebound in the manufacturing sector substantially lifted the prospects of Qatar’s industrial sector in May 2021, according to official estimates.
Qatar's PPI or producers price index – a measure of the average selling prices received by the domestic producers for their output – registered 92.1% and 7.5% expansion on yearly and monthly basis respectively, according to figures released by the Planning and Statistics Authority (PSA).
The PSA had released a new PPI series in late 2015. With a base of 2013, it draws on an updated sampling frame and new weights. The previous sampling frame dates from 2006, when the Qatari economy was much smaller than today and the range of products made domestically much narrower.
The mining PPI, which carries the maximum weight of 72.7%, reported a robust 117.2% surge year-on-year in May 2021 as the selling price of crude petroleum and natural gas was seen soaring a huge 117.9%; even as that of stone, sand and clay declined 6.1%.
The mining PPI registered an 8.8% increase on a monthly basis in May this year on the back of a 9% expansion in the selling price of crude petroleum and natural gas and 0.6% in stone, sand and clay.
The manufacturing sector, which has a weight of 26.8% in the PPI basket, witnessed a 58.9% growth year-on-year in May 2021 on a 74.6% surge in the average price of refined petroleum products, 66.8% in basic chemicals, 26.8% in basic metals, 15.3% in paper and paper products, 8.5% in rubber and plastics products, 3.7% in juices and 0.4% in dairy products.
Nevertheless, there was a 8.1% shrinkage in the price of cement and other non-metallic mineral products, 1.1% in beverages, 0.7% in grain mill and other products and 0.4% in other chemical products and fibres.
The manufacturing sector PPI had seen a monthly 5.2% expansion in May 2021 as the average selling price of basic chemicals shot up 8.6%, rubber and plastics products (5.4%), refined petroleum products (4.6%), paper and paper products (4.5%), basic metals (3.6%), juices 91.2%) and dairy products (0.6%).
However, the average prices of cement and other non-metallic mineral products declined 1.1%, beverages (0.7%) and grain mill and other products (0.2%).
The utilities group, which has a mere 0.5% weightage in the PPI basket, saw its index soar 7% year-on-year because there was a 17.2% increase in the average selling price of water, even as that of electricity was down 1.3% in May 2021.
The index had however seen a 5.1% contraction month-on-month this May with the average selling price of electricity and water plummeting 7.9% and 2.2% respectively.
Qatar's PPI or producers price index – a measure of the average selling prices received by the domestic producers for their output – registered 92.1% and 7.5% expansion on yearly and monthly basis respectively, according to figures released by the Planning and Statistics Authority (PSA).
The PSA had released a new PPI series in late 2015. With a base of 2013, it draws on an updated sampling frame and new weights. The previous sampling frame dates from 2006, when the Qatari economy was much smaller than today and the range of products made domestically much narrower.
The mining PPI, which carries the maximum weight of 72.7%, reported a robust 117.2% surge year-on-year in May 2021 as the selling price of crude petroleum and natural gas was seen soaring a huge 117.9%; even as that of stone, sand and clay declined 6.1%.
The mining PPI registered an 8.8% increase on a monthly basis in May this year on the back of a 9% expansion in the selling price of crude petroleum and natural gas and 0.6% in stone, sand and clay.
The manufacturing sector, which has a weight of 26.8% in the PPI basket, witnessed a 58.9% growth year-on-year in May 2021 on a 74.6% surge in the average price of refined petroleum products, 66.8% in basic chemicals, 26.8% in basic metals, 15.3% in paper and paper products, 8.5% in rubber and plastics products, 3.7% in juices and 0.4% in dairy products.
Nevertheless, there was a 8.1% shrinkage in the price of cement and other non-metallic mineral products, 1.1% in beverages, 0.7% in grain mill and other products and 0.4% in other chemical products and fibres.
The manufacturing sector PPI had seen a monthly 5.2% expansion in May 2021 as the average selling price of basic chemicals shot up 8.6%, rubber and plastics products (5.4%), refined petroleum products (4.6%), paper and paper products (4.5%), basic metals (3.6%), juices 91.2%) and dairy products (0.6%).
However, the average prices of cement and other non-metallic mineral products declined 1.1%, beverages (0.7%) and grain mill and other products (0.2%).
The utilities group, which has a mere 0.5% weightage in the PPI basket, saw its index soar 7% year-on-year because there was a 17.2% increase in the average selling price of water, even as that of electricity was down 1.3% in May 2021.
The index had however seen a 5.1% contraction month-on-month this May with the average selling price of electricity and water plummeting 7.9% and 2.2% respectively.