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Quarterly Index of Industrial ​Production (QIIP), Third 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 third quarter of 2023, the overall index of industrial production increased by 4.4% compared to the previous quarter and by 1.0% when compared to the corresponding quarter of 2022. 

 

2.    The performance of the sub-sectors within the industrial sector is as follows:

 

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​Growth rate (%) third quarter 2023

Over corresponding quarter 2022 Over previous quarter
Mining and quarrying -7.6 -5.1
Manufacturing +1.0 +4.4
Electricity, gas, steam & air conditioning supply +3.1 +10.1
Water supply; sewerage, waste management and remediation activities +2.8 -3.9
Industrial Sector +1.0 +4.4

 

3.    The index for the year ending third 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" (+4.0%), “Manufacturing" (+3.9%) and “Water supply; sewerage, waste management and remediation activities" (+2.4%).


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20 December 2023

 

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