The State's Industrial Production Index Rises 1.8% in August

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The Planning and Statistics Authority has issued a press release for August 2021 of industrial production index to study and analyze the economic level of the state. This index details the growth of various

industrial sectors in economy such as "Mining", "Manufacturing", "Electricity production", and "Water production and desalination". It is a short-term quantitative index that measures the changes in the volume of productions of a selected basket of industrial products over a given period with respect to that in a chosen period called the base period.

The Industrial Production Index consists of three main components: "Mining" with a relative importance of 83.6 percent, "Manufacturing" with a relative importance of 15.2 percent, "Electricity" with a relative importance of 0.7 percent, and finally "Water" with a relative importance of 0.5 percent.

The Planning and Statistics Authority data released today pointed out that the index of Mining sector showed an increase by 1.7 percent compared to the previous month (July 2021), as a result of the increase in the quantities of "crude oil petroleum and natural gas" by 1.7 percent, while "Other mining and quarrying" showed an increase by 8.9 percent. When compared to the corresponding month of the previous year (August 2020), the IPI of Mining decreased by 2.1 percent.

The Industrial Production index (IPI), August 2021 amounted to 102.1 points, increased by 1.8 percent compared to the previous month (July 2021), while decreased by 2.0 percent, when compared to the corresponding month in 2020.

The index of Manufacturing sector showed an increase by 1.8 percent compared to the previous month (July 2021), The groups showed an increase include: "Manufacture of Cement and other non-metallic mineral products" by 10.2 percent, followed by "Printing and reproduction of recorded media" by 9.7 percent, "Manufacture of beverages" by 8.4 percent, "Manufacture of basic metals" by 4.0 percent,"Manufacture of food products" by 3.6 percent, "Manufacture of refined petroleum products" by 2.6 percent, and "Manufacture of chemicals and chemical products" by 0.6 percent. However, a decrease recorded in "Manufacture of rubber and plastics products" by 3.0 percent.

On the other hand, in terms of annual change, comparing to August 2020, a decrease of 1.1 percent was recorded, affected by the following groups: "Manufacture of refined petroleum products" by 9.9 percent, followed by "Manufacture of beverages" by 8.3 percent, "Manufacture of food products" by 3.7 percent, and "Manufacture of chemicals and chemical products" by 2.7 percent. However, an increase recorded in "Manufacture of Cement & other non-metallic mineral products" by 26.1 percent, "Manufacture of basic metals" by 12.1 percent, Printing and reproduction of recorded media by 9.7, and "Manufacture of rubber and plastics products" by 3.2 percent.

An increase of 2.1 percent was noticed in the production of "Electricity" between August 2021 and the previous month (July 2021), Comparing with corresponding month (August 2020), an increase of 1.8 percent was recorded.

A decrease of 1.6 percent was noticed in the production of 'Water'' between August 2021 and the previous month (July 2021). Comparing with corresponding month (August 2020), a decrease of 22.3 percent was recorded.

SOURCE: QNA