Qatar’s industrial sector witnessed significant year-on-year price pressure, especially in its hydrocarbons and certain manufactured businesses as basic chemicals and refined petroleum products, in December 2021, according to the official estimates.
The country's producers' price index (PPI), which is almost equal to the global energy price index as per Qatar Economic Outlook, shot up 82.8% year-on-year, but fell 1.3% on a monthly basis in the review period, said the 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 hardening of the global crude oil and industrial input prices had its reflection in the PPI.
The mining PPI, which carries the maximum weight of 72.7%, reported a 90.8% surge year-on-year in December 2021 as the average selling price of crude petroleum and natural gas was seen soaring 91.2%; even as that of stone, sand and clay declined 1.2%.
The mining PPI shrank 2.3% on a monthly basis in December 2021 on the back of a 2.3% fall in the average selling price of crude petroleum and natural gas but there was a 1.1% jump in stone, sand and clay.
The manufacturing sector PPI, which has a weight of 26.8% in the basket, zoomed 69.8% year-on-year in December 2021 on the back of a 131.8% increase in the average price of basic chemicals, 62.3% in refined petroleum products, 45.1% in basic metals, 11.3% in rubber and plastics products, 8.9% in paper and paper products, 2.9% in cement and other non-metallic mineral products, 1.1% in grain mill and other products and 0.6% in dairy products.
Nevertheless, there was a 2.9% decline in the average selling price of other chemical products and fibres, 1.3% in beverages and 0.9% in juices.
The manufacturing sector PPI had seen a monthly marginal 0.6% rise in December 2021 as the average selling price of basic chemicals rose 8.4%, basic metals (2%), dairy products (1.1%), juices (0.2%) and grain mill and other products (0.1%).
However, there was 2.7% shrinkage in the average selling price of refined petroleum products, 1.2% in rubber and plastics products and 0.4% in cement and other non-metallic mineral products.
The utilities group, which has a mere 0.5% weightage in the PPI basket, saw its index soar 5.6% year-on-year because of a 17.7% increase in the average selling price of water whereas that of electricity shrank 3% in December 2021.
The index had seen a 7.9% growth month-on-month in the review period as the average selling price of electricity and water was seen rising 14.7% and 1% respectively.
The country's producers' price index (PPI), which is almost equal to the global energy price index as per Qatar Economic Outlook, shot up 82.8% year-on-year, but fell 1.3% on a monthly basis in the review period, said the 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 hardening of the global crude oil and industrial input prices had its reflection in the PPI.
The mining PPI, which carries the maximum weight of 72.7%, reported a 90.8% surge year-on-year in December 2021 as the average selling price of crude petroleum and natural gas was seen soaring 91.2%; even as that of stone, sand and clay declined 1.2%.
The mining PPI shrank 2.3% on a monthly basis in December 2021 on the back of a 2.3% fall in the average selling price of crude petroleum and natural gas but there was a 1.1% jump in stone, sand and clay.
The manufacturing sector PPI, which has a weight of 26.8% in the basket, zoomed 69.8% year-on-year in December 2021 on the back of a 131.8% increase in the average price of basic chemicals, 62.3% in refined petroleum products, 45.1% in basic metals, 11.3% in rubber and plastics products, 8.9% in paper and paper products, 2.9% in cement and other non-metallic mineral products, 1.1% in grain mill and other products and 0.6% in dairy products.
Nevertheless, there was a 2.9% decline in the average selling price of other chemical products and fibres, 1.3% in beverages and 0.9% in juices.
The manufacturing sector PPI had seen a monthly marginal 0.6% rise in December 2021 as the average selling price of basic chemicals rose 8.4%, basic metals (2%), dairy products (1.1%), juices (0.2%) and grain mill and other products (0.1%).
However, there was 2.7% shrinkage in the average selling price of refined petroleum products, 1.2% in rubber and plastics products and 0.4% in cement and other non-metallic mineral products.
The utilities group, which has a mere 0.5% weightage in the PPI basket, saw its index soar 5.6% year-on-year because of a 17.7% increase in the average selling price of water whereas that of electricity shrank 3% in December 2021.
The index had seen a 7.9% growth month-on-month in the review period as the average selling price of electricity and water was seen rising 14.7% and 1% respectively.