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Quarterly Index of Industrial Production (QIIP), 2nd Quarter 2023
(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 second quarter of 2023, the overall index of industrial production increased by 6.2% compared to the previous quarter and by 4.5% when compared to the corresponding quarter of 2022.
2. The performance of the sub-sectors within the industrial sector is as follows:
3. The index for the year ending second quarter 2023, which is the average of quarterly indices for the period under review, grew by 5.1%. This is explained by expansions in “Electricity, gas, steam and air conditioning supply" (+5.1%), “Manufacturing" (+4.8%), “Water supply; sewerage, waste management and remediation activities" (+2.4%) and "Mining and quarrying" (+2.3%).