Quarterly Index of Industrial Production (QIIP), Fourth 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 fourth quarter of 2022, the overall index of industrial production increased by 13.6% compared to the previous quarter and by 11.7% when compared to the corresponding quarter of 2021.
2. The performance of the sub-sectors within the industrial sector is as follows:
| |
Growth rate (%) fourth quarter 2022 | |
| |
Over corresponding quarter 2021 |
Over previous quarter |
|
Mining and quarrying |
+4.8 |
+9.2 |
|
Manufacturing |
+11.7 |
+14.0 |
|
Electricity, gas, steam & air conditioning supply |
+4.3 |
+14.2 |
|
Water supply; sewerage, waste management and remediation activities |
+1.1 |
+2.1 |
|
Industrial Sector |
+11.7 |
+13.6 |
3. The index for the year 2022, worked out as the average of quarterly indices grew by 10.3%. This is explained by expansions in “Mining and quarrying" (+8.8%), “Manufacturing" (+10.4%), “Electricity, gas, steam and air conditioning supply" (+5.8%) and “Water supply; sewerage, waste management and remediation activities" (+3.9%).
21 March 2023
