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Monthly Industrial Production Index, IPI July, 2024 (Base year 2018=100)

9/16/2024
 

​·         6.0% Monthly increase in General IPI. 

·         5.5% Monthly increase in IPI of Mining sector.

·         7.6% Monthly increase in IPI of Manufacturing sector.

The National Planning Council has issued the press release of industrial production index for July 2024, calculated using 2018 as a base year.  This indicator reflects the growth of details of the growth of the various industrial economic sectors that make up it, with a different relative weight they have, such “Mining and quarrying" 82.46%, “Manufacturing" 15.85%, “Electricity, gas, steam, and air conditioning supply" 1.16%, and “Water supply" 0.53%. It is also a short-term quantitative index that measures the changes in the volume of productions of a selected basket of industrial products over a given period with respect to that in a chosen period called the base period, it studies and analysis the economic level of the state, and the growth of various industrial sectors in economy index details.

The Industrial Production index (IPI), July 2024 reached 103.2 point, increased by 6.0% compared to the previous month (June 2024), and decreased by 4.0%, when compared to the corresponding month in 2023.

     Details of the press release for the sectors that make up the industrial production index:

1. “Mining": The index of this sector showed an increase by 5.5% compared to the previous month (June 2024), due to the increase in the quantities of "crude oil petroleum and natural gas" with the same percentage, and  “Other mining and quarrying" increased by 11.0%. 

 When compared to the corresponding month of the previous year (July 2023), the IPI of Mining decreased by 5.0%, due to the decrease in the quantities of "crude oil petroleum and natural gas" with the same percentage, while “Other mining and quarrying" increased by 3.6%.

2. “Manufacturing": The index of this sector showed an increase by 7.6% compared to the previous month (June 2024), The groups showed an increase include: “Manufacture of refined petroleum products by 13.3%, followed by “Manufacture of basic metals" by 12.4%, “Manufacture of chemicals and chemical products “by 7.2%,  “Manufacture of food products" by 0.8%, “Printing and reproduction of recorded media" by 0.7%,  and “Manufacture of beverages" by 0.5%.  However, a decrease was recorded in “Manufacture of rubber and plastics products" by 2.7%, and “Manufacture of Cement and other non-metallic mineral products" by 0.9%.

 On the other hand, in terms of annual change, comparing to July 2023, a decrease of 0.3% was recorded, due to the decrease in “Manufacture of basic metals" by 16.6%, followed by “Manufacture of Cement & other non-metallic mineral products" by 8.2%, “Manufacture of rubber and plastics products" by 7.8%, ''Printing and reproduction of recorded media.'' by 3.2%, “Manufacture of refined petroleum products" by 1.8%, and “Manufacture of beverages" by 0.8%.  However, an increase was recorded in “Manufacture of food products" by 5.6%, and “Manufacture of chemicals and chemical products" by 5.5%.

3. “Electricity, gas, supply":  An increase of 7.2% was noticed in the production of “Electricity" between July 2024 and the previous month (June 2024). Compared with the corresponding month (July 2023), an increase of 8.2% was recorded. 

4. “Water Supply": An increase of 6.5% was noticed in the production of ''Water' between July 2024 and the previous month (June 2024). Compared with the corresponding month (July 2023), an increase of 0.5% was recorded. ​​

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