RIYADH: In a significant development for Qatar’s economy, the country’s industrial production index registered a 4.2 percent increase in June compared to the same month last year.
According to data released by Qatar’s Planning and Statistics Authority, the country’s IPI also grew 4.2 percent compared to May.
The data suggested that the mining sector, which has a relative weightage of 82.46 percent in the overall IPI, led the growth with a 5 percent increase in June.
The boost in the mining sector is primarily attributed to an increase in crude oil and natural gas extraction activities. The industry also recorded a 5.3 percent production increase in June compared to the year-ago period.
However, the manufacturing sector, which has a 15.85 percent relative weightage in the index, declined 0.4 percent in June compared to the previous month. It fell 11 percent compared to the production in June 2022.
The drop in the manufacturing sector resulted from an 11.3 percent plunge in the rubber and plastic industry production, a 9.1 percent fall in printing and replication of recorded media and a 6.3 percent decline in refined petroleum products.
The cement and other non-metallic mineral products industry also fell by 5.6 percent. Basic metals production followed suit with a 2.7 percent slide.
Conversely, the output of food products in June increased by 4.1 percent, followed by the chemical substances and products industry, which booked a 1.8 percent growth. Beverage production also increased by 4.1 percent year-on-year.
The utility sectors saw mixed results in June. The electricity, gas and steam supply sectors experienced a significant increase in output, rising by 8.4 percent from May 2023.
However, compared to June 2022, the sector experienced a slight decline of 0.8 percent.
Meanwhile, the water supply sector saw a more consistent performance, recording a 2.1 percent increase in production compared to the previous month and the same month last year.
