RIYADH: Qatar’s industrial sector saw a 0.21 percent decline in the monthly producer price index in December 2023, falling to 118.40 points compared to the previous month, official data showed.
This decline is attributed to price drops in key sectors, namely mining, manufacturing, electricity, and water, which hold significant weightage in the overall basket, as indicated by data from the country’s Planning and Statistics Authority.
Similarly, Qatar’s PPI recorded a decline of 12.94 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 decrease.
Specifically, the PPI for mining and quarrying dipped by 0.07 percent compared to November 2023, driven by a 0.07 percent decrease in the prices of crude petroleum and natural gas.
On a yearly basis, the PPI for mining experienced a notable 13.58 percent decrease in December, mainly attributable to a 13.60 percent decline in the prices of crude petroleum and natural gas.
In the manufacturing sector, December saw a 2.19 percent fall compared to November. Notable price drops were observed in basic metals at 4.90 percent, chemicals and chemical products at 3.19 percent, and beverages at 0.16 percent.
However, increasing prices were observed in cement and other non-metallic mineral products by 1.27 percent, followed by rubber and plastics products at 0.41 percent, and a slight increase in refined petroleum products at 0.02 percent.
Furthermore, the overall manufacturing PPI demonstrated a significant 11.61 percent yearly decline in December 2023, with major contributors to this drop being basic metals at 16.52 percent and chemicals and chemical products at 15.91 percent.
The data for electricity, gas, steam, and air conditioning supply displayed a 12.73 percent increase compared to November 2023. On a year-on-year basis, the sector experienced a 14.14 percent growth.
Additionally, water supply witnessed a 3.87 percent increase compared to November 2023. On a year-on-year basis, the sector exhibited a positive 7.91 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.
