Quarterly Index of Industrial Production (QIIP), First Quarter 2023
Highlights
(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 or 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. In the first quarter of 2023, the overall index of industrial production decreased by 19.6% compared to the previous quarter and grew by 0.2% when compared to the corresponding quarter of 2022.
2. The performance of the sub-sectors within the industrial sector is as follows:
| |
Growth rate (%) first quarter 2023 |
| |
Over corresponding quarter 2022 |
Over previous quarter |
|
Mining and quarrying |
+2.9 |
-26.6 |
|
Manufacturing |
0.0 |
-22.2 |
|
Electricity, gas, steam & air conditioning supply |
+2.5 |
+7.5 |
|
Water supply; sewerage, waste management and remediation activities |
+1.3 |
-3.1 |
|
Industrial Sector |
+0.2 |
-19.6 |
3. The index for the year ending first quarter 2023, which is the average of quarterly indices for the period under review, grew by 6.9%. This is explained by expansions in “Mining and quarrying" (+7.6%), “Manufacturing" (+6.6%), “Electricity, gas, steam and air conditioning supply" (+4.4%) and “Water supply; sewerage, waste management and remediation activities" (+2.6%).
23 June 2023
