Qatar's industrials sector displayed robust performance in July on an annualised basis, mainly supported by refined petroleum products, beverages and hydrocarbons sectors, according to the official data.
The increased production of manufactured items as well as higher extraction in the mining and quarrying sectors led Qatar's industrial production index (IPI) jump 7.8% on an annualised basis in July 2022. The IPI saw a 4.8% jump month-on-month this July, 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 an 8.5% surge on a yearly basis owing to an 8.5% increase in the extraction of crude petroleum and natural gas and 17.8% in other mining and quarrying sectors.
On a monthly basis, the index showed a 5.4% expansion owing to a 5.4% surge in the extraction of crude petroleum and natural gas and 1.3% in other mining and quarrying sectors.
The manufacturing index, with a relative weight of 15.2%, shot up 4.8% year-on-year in July 2022 on account of 14.7% increase in the production of refined petroleum products, 12.7% in beverages, 6.6% in rubber and plastics products, 6.1% in chemicals and other chemical products, 5.6% in food products and 0.2% in cement and other non-metallic mineral products.
Nevertheless, there was a 9.1% decline in printing and reproduction of recorded media and 7.4% in basic metals in the review period.
On a monthly basis, the manufacturing index was up 1.7% owing to 5.4% jump in the production of refined petroleum products, 2.6% in chemicals and chemical products and 0.5% in basic metals.
However, there was a 6.8% shrinkage in the production of cement and other non-metallic mineral products, 3.3% in beverages, 3.1% in printing and reproduction of recorded media, 2% in rubber and plastics products and 1.9% in food products in the review period.
In its recent Article IV consultation report on Qatar, the International Monetary Fund said the industrial production in the country remained below pre-Covid levels as maintenances reduced hydrocarbon production in 2021.
Electricity, which has 0.7% weight in the IPI basket, saw its index soar 4.3% and 7.5% year-on-year and month-on-month basis respectively this July.
In the case of water, which has a 0.5% weight, there was a 27.1% and 1.7% increase on yearly and monthly basis respectively in July 2022.
The increased production of manufactured items as well as higher extraction in the mining and quarrying sectors led Qatar's industrial production index (IPI) jump 7.8% on an annualised basis in July 2022. The IPI saw a 4.8% jump month-on-month this July, 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 an 8.5% surge on a yearly basis owing to an 8.5% increase in the extraction of crude petroleum and natural gas and 17.8% in other mining and quarrying sectors.
On a monthly basis, the index showed a 5.4% expansion owing to a 5.4% surge in the extraction of crude petroleum and natural gas and 1.3% in other mining and quarrying sectors.
The manufacturing index, with a relative weight of 15.2%, shot up 4.8% year-on-year in July 2022 on account of 14.7% increase in the production of refined petroleum products, 12.7% in beverages, 6.6% in rubber and plastics products, 6.1% in chemicals and other chemical products, 5.6% in food products and 0.2% in cement and other non-metallic mineral products.
Nevertheless, there was a 9.1% decline in printing and reproduction of recorded media and 7.4% in basic metals in the review period.
On a monthly basis, the manufacturing index was up 1.7% owing to 5.4% jump in the production of refined petroleum products, 2.6% in chemicals and chemical products and 0.5% in basic metals.
However, there was a 6.8% shrinkage in the production of cement and other non-metallic mineral products, 3.3% in beverages, 3.1% in printing and reproduction of recorded media, 2% in rubber and plastics products and 1.9% in food products in the review period.
In its recent Article IV consultation report on Qatar, the International Monetary Fund said the industrial production in the country remained below pre-Covid levels as maintenances reduced hydrocarbon production in 2021.
Electricity, which has 0.7% weight in the IPI basket, saw its index soar 4.3% and 7.5% year-on-year and month-on-month basis respectively this July.
In the case of water, which has a 0.5% weight, there was a 27.1% and 1.7% increase on yearly and monthly basis respectively in July 2022.
