The Planning and Statistics Authority issued the press release for the updated industrial production index for the month of February 2023, calculated on the new base year 2018. This indicator reflects the details of the growth of the various industrial economic sectors that make up it, namely the mining sector, with a relative importance of 82.46%, and the manufacturing sector, with a relative importance of 15.85. %, the electricity sector and its relative importance 1.16%, and the water sector with a relative importance of 0.53%. The industrial production index is a short-term quantitative indicator that measures changes in the volume of production in a selected basket of industrial products in a specific period of time, attributed to a selected period of time called the base period.
The industrial production index recorded 98.7 points in February of 2023, decreasing by 4.2% compared to the previous month (January 2023), while it increased by 12.4% compared to the corresponding month of 2022.
1. Mining: The index for this sector, compared to the previous month (January 2023), indicates a decrease in the figure by 4.4%. %.
And compared to the corresponding month of the previous year (February 2023), an increase in this sector is observed by 14.3%.
2. Manufacturing Industry: A decrease of 3.3% is noted in February 2023 compared to the previous month (January 2023). This occurred as a result of a decrease in production in the following groups: Manufacture of refined petroleum products by 9.3%, followed by Manufacture of chemicals and chemical products by 3.9%. The beverage industry increased by 2.3%, and the food products industry increased by 0.2%. As for the increase, it occurred in the manufacture of base metals (basic minerals) by 2.9%, the manufacture of rubber and plastic products by 1.4%, and the manufacture of cement and other non-metallic mineral products by 0.5%. As for the group of printing and reproduction of recorded media, there has been no significant change.
On the other hand, and in the same sector, and in terms of annual change, the index for the industry sector increased by 4.1% compared to the corresponding month (February 2022), as a result of the increase in production in the refined petroleum products industry by 34.7%, the beverage industry by 7.6%, and the two groups of the products industry. food, and the manufacture of base metals (basic minerals) by 4.5% each, the manufacture of rubber and plastic products by 1.2%, and the manufacture of chemicals and chemical products by 0.8%. While the decrease was in the production of cement and other non-metallic mineral products by 12.8%, and the group of printing and reproduction of recorded media by 9.1%.
3. Electricity, gas and steam supplies: A decrease in production was observed between February 2023 and the previous month (January 2023) by 1.9%, and when compared with the corresponding month of the previous year (February 2022) the increase was 14.6%.
4. Water Supply: When comparing February 2023 with the previous month (January 2023), a decrease in production was observed by 17.9%, and when compared with the corresponding month of the previous year (February 2022), the decrease was 10.7%.
