The Planning and Statistics Authority (PSA) said that the Industrial Production index (IPI), January 2020 amounted to 104.9 points, decreased by 1.8% compared to the previous month (December 2019), and decreased by 2.1%, when compared to the corresponding month of 2019.

The IPI 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%, "Manufacturing" with a relative importance of 15.2%, "Electricity" with a relative importance of 0.7%, and finally "Water" with a relative importance of 0.5%.

The index of the Mining sector showed a decrease by 1.3% compared to the previous month (December 2019), as a result of the decrease in the quantities of "crude oil and natural gas" by 1.3%, while "Other mining and quarrying" showed a decrease by 0.3%. When compared to the corresponding month of the previous year (January 2019), the IPI of Mining decreased by 2.1%.

The index of the Manufacturing sector showed a decrease by 3.8% compared to the previous month (December 2019), The groups showed decreases include: "Manufacture of chemicals and chemical products" by 6.7%, followed by "Manufacture of refined petroleum products" by 5.4%, and "Manufacture of beverages" by 1.1%. However, an increase was recorded in three groups: "Manufacture of basic metals" by 8.9%, followed by "Manufacture of Cement and other non-metallic mineral products" by 4.7%, and "Manufacture of food products" by 0.3%. No change noticed in "Printing and reproduction of recorded media", and "Manufacture of rubber and plastics products".

On the other hand, in terms of annual change, comparing to January 2019, a decrease of 2.1% was recorded, affected by the following groups: "Manufacture of refined petroleum products" by 10.1%, "Manufacture of Cement & other non-metallic mineral products" by 6.9%, "Manufacture of chemicals and chemical products" by 4.4%, and "Manufacture of food products" by 2.3%. However, an increase recorded in, "Manufacture of basic metals" by 23.0%,"Manufacture of beverages" by 10.8%,"Printing and reproduction of recorded media" by 1.3%, and "Manufacture of rubber and plastics products" by 0.9%.

A decrease of 8.5% was noticed in the production of "Electricity" between January 2020 and the previous month (December 2019), while the annual decrease when comparing with January 2019, was 12.8%. A decrease of 2.7% was noticed in the production of "Water" between January 2020 and the previous month (December 2019). Comparing with corresponding month (January 2019), a decrease of 4.5% was recorded.

Source: QNA

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Sumaica Asad

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