Qatar's industrials sector continued to display robust performance in August on an annualised basis, mainly drawing strength from the hydrocarbons sector, according to the official data.
The increased production of manufactured items such as food products, refined petroleum products and chemicals as well as higher extraction in the mining and quarrying sectors led Qatar's industrial production index (IPI) to jump 7.3% year-on-year and 1.2% month-on-month in August 2022, 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 7.3% surge on a yearly basis owing to a 7.3% increase in the extraction of crude petroleum and natural gas and 5.2% in other mining and quarrying sectors.
On a monthly basis, the index was up a marginal 0.6% on account of a 0.6% jump in the extraction of crude petroleum and natural gas but other mining and quarrying sectors saw a 2.7% contraction.
The manufacturing index, with a relative weight of 15.2%, shot up 7.1% year-on-year in August 2022 owing to 20.4% increase in the production of refined petroleum products, 12.6% in chemicals and chemical products, 10.6% in rubber and plastics products, 10.3% in food products and 4.1% in beverages.
Nevertheless, there was a 12.4% shrinkage in the production of basic metals, 12% in cement and other non-metallic mineral products and 9.1% in printing and reproduction of recorded media in the review period.
On a monthly basis, the manufacturing index zoomed 4.4% owing to a 6.8% increase in the production of chemicals and chemical products, 6.2% in food products, 5.4% in refined petroleum products, 3.2% in printing and reproduction of recorded media, 2.3% in beverages and 0.8% in rubber and plastics products; even as there was a 2.1% decline in the production of basic metals.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 5% and 2.8% year-on-year and month-on-month basis respectively this August.
In the case of water, which has a 0.5% weight, there was a 27.5% surge on an annualised basis but shrank 1.2% month-on-month in August 2022.
The increased production of manufactured items such as food products, refined petroleum products and chemicals as well as higher extraction in the mining and quarrying sectors led Qatar's industrial production index (IPI) to jump 7.3% year-on-year and 1.2% month-on-month in August 2022, 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 7.3% surge on a yearly basis owing to a 7.3% increase in the extraction of crude petroleum and natural gas and 5.2% in other mining and quarrying sectors.
On a monthly basis, the index was up a marginal 0.6% on account of a 0.6% jump in the extraction of crude petroleum and natural gas but other mining and quarrying sectors saw a 2.7% contraction.
The manufacturing index, with a relative weight of 15.2%, shot up 7.1% year-on-year in August 2022 owing to 20.4% increase in the production of refined petroleum products, 12.6% in chemicals and chemical products, 10.6% in rubber and plastics products, 10.3% in food products and 4.1% in beverages.
Nevertheless, there was a 12.4% shrinkage in the production of basic metals, 12% in cement and other non-metallic mineral products and 9.1% in printing and reproduction of recorded media in the review period.
On a monthly basis, the manufacturing index zoomed 4.4% owing to a 6.8% increase in the production of chemicals and chemical products, 6.2% in food products, 5.4% in refined petroleum products, 3.2% in printing and reproduction of recorded media, 2.3% in beverages and 0.8% in rubber and plastics products; even as there was a 2.1% decline in the production of basic metals.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 5% and 2.8% year-on-year and month-on-month basis respectively this August.
In the case of water, which has a 0.5% weight, there was a 27.5% surge on an annualised basis but shrank 1.2% month-on-month in August 2022.
