Quarterly Index of Industrial Production (QIIP), 3rd Quarter 2022
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 third quarter of 2022, the overall index of industrial production increased by 9.6% compared to the previous quarter and by 7.4% when compared to the corresponding quarter of 2021.
2. The performance of the sub-sectors within the industrial sector is as follows:
|
Growth rate (%) third quarter 2022 |
|
Over corresponding quarter 2021 |
Over previous quarter |
|
Mining and quarrying |
+1.9 |
+0.6 |
|
Manufacturing |
+6.8 |
+10.4 |
|
Electricity, gas, steam & air conditioning supply |
+4.4 |
+8.6 |
|
Water supply; sewerage, waste management and remediation activities |
+2.7 |
-1.5 |
|
Industrial Sector |
+7.4 |
+9.6 |
3. For the year ending third quarter 2022, i.e. fourth quarter 2021 to third quarter 2022, the real industrial output grew by 8.5%. This is explained by expansions in “Mining and quarrying" (+9.2%), “Manufacturing" (+8.9%), “Electricity, gas, steam and air conditioning supply" (+6.5%) and “Water supply; sewerage, waste management and remediation activities" (+3.7%).
21 December 2022
