(MENAFN- Gulf Times)
The Industrial Production Index (IPI) for May 2022 reached to 98.6 points, recording a decrease by 5.4% compared to the previous month (April 2022), and by 2.4% year-on-year.
Planning and Statistics Authority has issued a new version of press release of industrial production index for May 2022, calculated using 2018 as a base year.
By changing the base year, the relative weight of main economic sectors under this indicator are changed also, therefore 'mining' 82.46%, 'manufacturing' 15.85%, 'electricity production' 1.16%, and 'water production' 0.53%.
This indicator 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, it study and analyse the economic level of the state, and the growth of various industrial sectors in economy index details.
In the mining sector, the index of this sector showed a decrease by 7.1% compared to the previous month (April 2022), as a result of the increase in the quantities of 'crude oil petroleum and natural gas' with the same percentage.
While 'other mining and quarrying' increased by 0.5%.
When compared to the corresponding month of the previous year (May 2021), the IPI of Mining decreased by 2.7%.
In the manufacturing sector, the index of this sector showed an increase by 1.7% compared to the previous month (April 2022), the groups showed an increase include: 'Manufacture of cement and other non-metallic mineral products' by 6.4%, followed by 'manufacture of beverages' by 5.3%, 'manufacture of food products' by 3.7%, 'manufacture of chemicals and chemical products' by 2.1%, 'manufacture of basic metals' by 1.6%, and 'manufacture of rubber and plastics products' by 0.8%.
However, a decrease was recorded in 'printing and reproduction of recorded media by 6.7%, and 'manufacture of refined petroleum products' by 2.0%.
On the other hand, in terms of annual change, comparing to May 2021, a decrease of 2.9% was recorded, and that due to the decrease in 'manufacture of basic metals' by 10.9%, 'printing and reproduction of recorded media by 9.1%, and 'manufacture of chemicals and chemical products' by 4.2%.
However, an increase recorded in 'manufacture of beverages' by 18.7%, 'manufacture of food products' by 7.8%, 'manufacture of refined petroleum products' by 4.8%, 'manufacture of cement & other non-metallic mineral products' by 2.7%, and 'manufacture of rubber and plastics products' by 0.7%.
In the electricity and gas supply sector, an increase of 13.5% was noticed in the production of 'electricity' between May 2022 and the previous month (April 2022). Comparing with corresponding month (May 2021), an increase of 3.8% was recorded.
In the water supply sector, an increase of 6.1% was noticed in the production of 'water'' between May 2022 and the previous month (April 2022). Comparing with corresponding month (May 2021), an increase of 33.8% was recorded.
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