Qatar’s Industrial Production Index Rises by 6% in July 2024

Doha: Qatar's Industrial Production index (IPI) recorded 103.2 points in July 2024, an increase by 6% compared to the previous month (June 2024), but decreased by 4% when compared to the corresponding month in 2023. The IPI measures the growth of various industrial sectors in economy. The relative weight of main economic sectors under this indicator include, Mining (82.46%), Manufacturing (15.85%), Electricity (1.16%), Water (0.53%). According to data released by the National Planning Council on Monday, the IPI of the Mining sector showed an increase by 5.5% compared to the previous month (June 2024), due to the increase in the quantities of "crude oil petroleum and natural gas" with the same percentage, and "Other mining and quarrying" increased by 11.0%. When compared to the corresponding month of the previous year (July 2023), the IPI of Mining decreased by 5.0%, due to the decrease in the quantities of "crude oil petroleum and natural gas" with the same percentage, while "Other mining and quarrying" in creased by 3.6%. The IPI of Manufacturing showed an increase by 7.6% compared to the previous month (June 2024), The groups showed an increase include: "Manufacture of refined petroleum products by 13.3%, followed by "Manufacture of basic metals" by 12.4%, "Manufacture of chemicals and chemical products "by 7.2%, "Manufacture of food products" by 0.8%, "Printing and reproduction of recorded media" by 0.7%, and "Manufacture of beverages" by 0.5%. However, a decrease was recorded in "Manufacture of rubber and plastics products" by 2.7%, and "Manufacture of Cement and other non-metallic mineral products" by 0.9%. On the other hand, in terms of annual change, comparing to July 2023, a decrease of 0.3% was recorded, due to the decrease in "Manufacture of basic metals" by 16.6%, followed by "Manufacture of Cement and other non-metallic mineral products" by 8.2%, "Manufacture of rubber and plastics products" by 7.8%, Printing and reproduction of recorded media. by 3.2%, "Manufacture of refined petroleum products" by 1.8%, and "Manufacture of beverages" by 0.8%. However, an increase was recorded in "Manufacture of food products" by 5.6%, and "Manufacture of chemicals and chemical products" by 5.5%. In the Electricity, gas, supply sector, an increase of 7.2% was noticed in the production of "Electricity" between July 2024 and the previous month (June 2024). Compared with the corresponding month (July 2023), an increase of 8.2% was recorded. In Water Supply, an increase of 6.5% was noticed in the production of 'Water between July 2024 and the previous month (June 2024). Compared with the corresponding month (July 2023), an increase of 0.5% was recorded. Source: Qatar News Agency