Quarterly Index of Industrial Production (QIIP), 4^th Quarter 2023

Hig​hlights

(Year 2018 = 100)

The Economic and Social Indicators on Quarterly Index of Industrial Production (QIIP) aims at measuring, on a quarterly basis, the changes in the volume of real output of the Industrial Sector comprising "Mining and quarrying", "Manufacturing", "Electricity, gas, steam & air conditioning supply" and "Water supply; sewerage, waste management and remediation activities". Please find below the highlights

1.  1.    In the fourth quarter of 2023, the overall index of industrial production increased by 14.2% compared to the previous quarter and by 2.3% when compared to the corresponding quarter of 2022. 
   
   
2.  2.    The performance of the sub-sectors within the industrial sector is as follows:
   
   

​ ​	Growth rate (%) fourth quarter 2023​ ​
	Over corresponding quarter 2022	Over previous quarter
Mining and quarrying	-16.7	-2.0
Manufacturing	+2.3	+14.6
Electricity, gas, steam & air conditioning supply	+7.6	+19.6
Water supply; sewerage, waste management and remediation activities	+2.0	+1.3
​Industrial Sector	+2.3	+14.2

3. The index for the year 2023, which is the average of quarterly indices for the period under review, grew by 2.1%.  This is explained by expansions in “Electricity, gas, steam and air conditioning supply" (+5.4%), “Manufacturing" (+2.1%), and “Water supply; sewerage, waste management and remediation activities" (+2.6%). 

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​ ​21 March 2024

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