GASTAT: Industrial Production Index increases by 17.7% in July 2022

GASTAT: Industrial Production Index increases by 17.7% in July 2022
GASTAT: Industrial Production Index increases by 17.7% in July 2022

The Industrial Production Index (IPI) in July 2022 increased by 17.7% compared to July 2021. The IPI continued to show positive growth rates due to the high production in mining & quarrying, manufacturing activity, and electricity and gas supply, according to the General Authority for Statistics’ (GASTAT) monthly report.

In July 2022, mining and quarrying grew by 14.1% compared to July 2021. The manufacturing activity increased by 32.6% compared to the same month of the previous year. The electricity and gas supplies increased by 5%. Compared to June 2022, the overall IPI increased by 1.6%. Mining and quarrying showed a month-on-month growth rate of 1.6%. The manufacturing sector increased by 0.3%, electricity and gas supplies increased by 14.6%.

The IPI is an economic indicator that reflects the relative changes of the volume of industrial output. It is calculated based on the industrial production survey. The IPI data is based on the International Standard Industrial Classification of Economic Activities (ISIC 4). This index is published on a monthly basis.

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