Qatar industrial production records 2.2% growth in December

Ras Laffan Industrial City

Ras Laffan Industrial City

Higher extraction of hydrocarbons and robust expansion in the production of beverages and chemicals helped Qatar’s industrial production record 2.2% year-on-year growth in December 2018, according to official estimates.The country’s Industrial Production Index (IPI), however, showed a 1.7% decline month-on-month in December previous year, 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 2.7% surge year-on-year in November 2018 owing to a 2% increase in the extraction of crude petroleum and natural gas; even as other mining and quarrying plummeted 2.9%.

On a monthly basis, the index showed a 1.5% dip as the extraction of crude petroleum and natural gas contracted 1.5%; but other mining and quarrying was up a marginal 0.2%.The manufacturing index, with a relative weight of 15.2%, showed a 0.4% rise year-on-year in November 2018 on account of a 5% expansion in the production of beverages, 2.3% in the manufacture of chemicals and chemical products and 2.1% in the manufacture of rubber and plastics products.

Nevertheless, there was a 14.8% fall in printing and reproduction of recorded media, 12.9% in the manufacture of cement and other non-metallic mineral products, 2.1% in the manufacture of refined petroleum products and 0.1% in the manufacture of food products as well as basic metals.On a monthly basis, the manufacturing index had witnessed a 1.7% shrinkage on a 11.9% decline in the production of beverages, 3.5% in the manufacture of refined petroleum products, 3% in the manufacture of chemicals and chemical products, 0.9% in the manufacture of cement and other non-metallic mineral products and 0.8% in the manufacture of food products; whereas there was a 8.3% increase in the manufacture of basic metals, 3.9% in the manufacture of rubber and plastics products and 1% in printing and reproduction of recorded media.

Electricity, which has 0.7% weight in the IPI basket, saw its index contract 1.3% and 18.9% on yearly and monthly basis respectively in November 2018; whereas in the case of water, which has a 0.5% weight, there was an 8.2% growth in the index year-on-year but saw a marginal 0.5% growth on monthly basis.