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Quarterly Index of Industrial Production (QIIP), First Quarter 2024

High​lights

(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

In the first quarter of 2024, the overall index of industrial production declined by 18.3% compared to the previous quarter and grew by 3.6% when compared to the corresponding quarter of 2023. 

 

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

 

 
Growth rate​ (%) first q​uarter 2024

Over corresponding quarter 2023 Over previous quarter
Mining and quarrying

+13.6

0.0

Manufacturing

+2.8

-21.9

Electricity, gas, steam & air conditioning supply

+5.6

+9.1

Water supply; sewerage, waste management and remediation activities

+3.8

+0.7

Industrial Sector

+3.6

-18.3​

 

3. The index for the year ending first quarter 2024, which is the average of quarterly indices for the period under review, increased by 2.8%.  This is explained by expansions in “Electricity, gas, steam and air conditioning supply" (+5.5%), “Manufacturing" (+2.7%), and “Water supply; sewerage, waste management and remediation activities" (+2.7%). 


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21 June 2024