(MENAFN- Gulf Times)
Higher extraction of natural gas and increased production of manufactured items as beverages and food products led Qatar's industrial production jump 6.7% on an annualised basis in April 2022, according to the official data.
The country's Industrial Production Index (IPI) saw a 3.8% jump month-on-month this April, according to 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 an 8.2% surge on a yearly basis owing to an 8.2% increase in the extraction of crude petroleum and natural gas and 1% in other mining and quarrying sectors.
On a monthly basis, the index showed a 6.1% expansion owing to a 6.1% surge in the extraction of crude petroleum and natural gas and 4.2% in other mining and quarrying sectors.
Electricity, which has 0.7% weight in the IPI basket, saw its index soar 24.4% and 35.2% year-on-year and month-on-month basis respectively this April.
In the case of water, which has a 0.5% weight, there was a 35% and 3.8% increase on yearly and monthly basis respectively in April 2022.
However, the manufacturing index, with a relative weight of 15.2%, fell 3.3% year-on-year in April 2022 on account of 10.2% in the production of cement and other non-metallic mineral products, 9.1% in printing and reproduction of recorded media, 8.3% in basic metals, 2.3% in rubber and plastics products, 1.9% in refined petroleum products and 1.3% in chemicals and chemical products.
Nevertheless, there was a 16.6% escalation in the production of beverages and 3.8% in food products in the review period.
On a monthly basis, the manufacturing index tanked 9% owing to a 14.2% decrease in the production of chemicals and chemical products, 8% in cement and other non-metallic mineral products, 4.2% in food products and 2.9% in refined petroleum products.
However, there was 4.8% jump in the production of rubber and plastics products, 4.7% in printing and reproduction of recorded media, 3.2% in beverages and 2.7% in basic metals.
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.
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