The Planning and Statistics Authority (PSA) recently revealed a surge in Qatar’s industrial production with promising figures showcasing a resilient industrial sector. Qatar’s industrial production index in January 2024 reached 108.7 points, a 4 percent monthly increase and a 5.5 percent increase compared to January 2023. The index revealed growth in multiple industrial sectors and outlined their contributions to the economy.
Mining and quarrying
Qatar’s industrial production index revealed a robust 4.9 percent increase in mining and quarrying compared to December 2023, primarily fueled by a surge in the production of crude and natural gas. However, ‘Other mining and quarrying’ segment experienced a decline of 6 percent. Compared to January 2023, the sector exhibited notable growth of 7.6 percent, primarily driven by increased production in “crude oil petroleum and natural gas”.
Manufacturing
Qatar’s industrial production index revealed a 0.6 percent monthly decline in manufacturing activity. The groups that recorded a decrease include the manufacturing of beverages (7.7 percent), basic metals (6.3 percent), and chemicals and chemical products (0.1 percent). However, Qatar’s manufacturing sector saw an increase in the manufacturing of rubber and plastics products (2.4 percent), refined petroleum products (1.6 percent), and food products (0.8 percent), among others.
Compared to January 2023, Qatar’s manufacturing sector saw a 5.7 percent decline mainly due to a 16.5 percent decline in the manufacturing of basic metals. Moreover, the sector saw a decline in the manufacturing of refined petroleum products (9.1 percent), rubber and plastics products (3.6 percent), chemicals and chemical products (3.4 percent), and food products (2.2 percent). However, Qatar’s industrial production index recorded an increase of 3.6 percent in the manufacturing of cement and other non-metallic mineral products and a 0.1 percent increase in the manufacturing of beverages.
Read: UAE’s industrial exports grow 60 percent in 3 years: Sultan Al Jaber
Electricity and water
Qatar’s industrial production index revealed a monthly decline in the electricity, gas and supply sectors. This decline is attributed to a 2.6 percent decline in electricity production. However, compared to January 2023, the sector witnessed a notable 7.0 percent increase.
Meanwhile, Qatar’s water supply sector saw a 0.9 percent monthly decline in water production. However, it recorded a significant increase of 8.6 percent compared to January 2023, indicating a positive trend in production.
The January 2024 IPI figures underscore the resilience and adaptability of Qatar’s industrial sector amidst evolving economic conditions. While certain subsectors experienced fluctuations, overall growth signals optimism for continued economic growth.
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