Quarterly Index of Industrial Production (QIIP), 4th 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 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
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1. In the fourth quarter of 2023, the overall index of industrial production increased by 14.2% compared to the previous quarter and by 2.3% when compared to the corresponding quarter of 2022.
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2. The performance of the sub-sectors within the industrial sector is as follows:
|
Growth rate (%) fourth quarter 2023
|
Over corresponding quarter 2022 |
Over previous quarter |
Mining and quarrying |
-16.7 |
-2.0 |
Manufacturing |
+2.3 |
+14.6 |
Electricity, gas, steam & air conditioning supply |
+7.6 |
+19.6 |
Water supply; sewerage, waste management and remediation activities |
+2.0 |
+1.3 |
Industrial Sector |
+2.3 |
+14.2 |
3. The index for the year 2023, which is the average of quarterly indices for the period under review, grew by 2.1%. This is explained by expansions in “Electricity, gas, steam and air conditioning supply" (+5.4%), “Manufacturing" (+2.1%), and “Water supply; sewerage, waste management and remediation activities" (+2.6%).
21 March 2024