Qatar’s Industrial Sector Achieves 1.13% Growth in October

Qatar’s producer price index for its industrial sector registered an increase of 1.13 percent in October 2023 compared to the previous month.

However, according to data released by the country’s Planning and Statistics Authority, Qatar’s PPI saw a dip of 18.27 percent compared to the same month last year.

The data suggested that the mining sector, with a dominant weightage of 82.46 percent in the index, played a pivotal role in the monthly growth.

Specifically, the PPI for mining and quarrying surged by 1.19 percent compared to September 2023, driven by a 1.19 percent increase in the production of crude petroleum and natural gas.

However, on a yearly basis, the PPI for mining witnessed a significant 20.09 percent decrease, primarily due to a 20.11 percent decline in the prices of crude petroleum and natural gas.

In the manufacturing sector, October recorded a 0.67 percent increase compared to September.

Notable price hikes were observed in basic metals with 5.83 percent, chemicals and chemical products with 1.38 percent, and rubber and plastics products with 0.67 percent.

However, the overall manufacturing PPI exhibited a substantial 8.87 percent decrease compared to October 2022, with major contributors to this decline being chemicals and chemical products with 13.51 percent and basic metals with 9.83 percent.

The data for electricity, gas, steam, and air conditioning supply displayed a commendable 7.63 percent increase compared to September 2023. On a year-on-year basis, the sector experienced a 4.97 percent growth.

Contrastingly, water supply witnessed a 5.92 percent decrease compared to September 2023. However, on a year-on-year basis, the sector exhibited a positive 10.50 percent increase.

These figures underscore Qatar’s dynamic industrial sector, with the mining and electricity segments driving growth, albeit tempered by challenges in manufacturing and water supply.

PSA oversees Qatar’s vision, collaborates on development strategies and ensures their implementation. It also prepares population policies, and supports government planning aligning development priorities with the state budget.

Additionally, PSA establishes a comprehensive statistical system, conducts censuses and surveys, and disseminates statistical data.

Source: Arab News