Qatar’s Industrial Production Index (IPI) for March 2024 reached 100.2 points, representing a 4.7 percent increase compared to the previous month (February 2024). However, when compared to the corresponding month in 2023, the IPI decreased by 3.2 percent, according to the state news agency (QNA).
Read more: Qatar announces $549.2 million budget surplus for Q1 2024
The IPI is a composite indicator that reflects the growth of various industrial economic sectors, each with a different relative weight: “Mining and quarrying” (82.46 percent), “Manufacturing” (15.85 percent), “Electricity, gas, steam, and air conditioning supply” (1.16 percent), and “Water supply” (0.53 percent).
Data from the Planning and Statistics Authority of Qatar showed a 4.8 percent increase in the mining sector compared to the previous month (February 2024). This was primarily driven by a 4.8 percent rise in the quantities of “crude oil petroleum and natural gas”, while “Other mining and quarrying” increased by 4.5 percent.
In February, Qatar’s producer price index (PPI) of the industrial sector recorded 114.39 points, a 1.03 percent monthly increase and an 8.6 percent annual decrease compared to February 2023. The PPI, a crucial economic indicator, reflects the average change in prices domestic producers receive for their output over time. Qatar’s February figures indicate a nuanced pattern of increases and decreases across various industrial sectors, offering a comprehensive view of the country’s industrial landscape.
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