Qatar’s IPI surges to 100.2 points in March

Qatar’s Industrial Production Index (IPI) surged to 100.2 points, marking a notable 4.7 per cent rise in March from the prior month but a 3.2 per cent decline compared to March 2023, according to the Planning and Statistics Authority (PSA) report on Monday.

This index provides insights into the growth dynamics across various industrial sectors, each contributing differently: Mining and quarrying holds the largest share at 82.46 per cent, followed by manufacturing at 15.85 per cent, electricity, gas, steam, and air conditioning supply at 1.16 per cent, and Water supply at 0.53 per cent.

Further PSA data showed a 4.8 per cent increase in the mining sector compared to February 2024, driven by heightened production of crude oil petroleum and natural gas by the same margin, while other mining and quarrying saw a 4.5 per cent uptick. However, in contrast to March 2023, mining witnessed a 3.3 per cent downturn due to decreased quantities of crude oil petroleum and natural gas” and a 1.5 per cent dip in other mining and quarrying.

The manufacturing sector saw a 3.8 per cent uptick from February 2024, with notable increases in various groups such as manufacturing of refined petroleum products 15.2 per cent, manufacturing of food products 7.6 per cent, and others. However, compared to March 2023, manufacturing experienced a 3.1 per cent decline, particularly in manufacture of basic metals -16.0 per cent and other segments.

Electricity, and gas, supply, a 13.0 per cent boost in electricity production was observed between March 2024 and February 2024, though a 3.1 per cent decrease was noted compared to March 2023.

Similarly, water supply showcased a 5.3 per cent rise in water production from March 2024 to February 2024, with a 1.3 per cent increase compared to March 2023.