The Industrial Production Index (IPI) grew by 4.6 per cent in October 2022, after registering double-digit growth for four consecutive months. The moderation in growth also was attributed to the high base index recorded in the same month of the previous year. The expansion of IPI during the month was contributed by the increment in Mining index (8.6%) and Manufacturing index (4.2%) while Electricity index recorded a decline of 1.9 per cent.
The main subsectors that contributed to the growth were Electrical & Electronics Products (8.7%); Petroleum, Chemical, Rubber & Plastic Products (3.2%); and Non-metallic Mineral Products, Basic Metal & Fabricated Metal Products (3.0%). The performance of Manufacturing sector during the month was supported by both export-oriented industries (5.0%) and domestic-oriented industries (2.5%).
Output in the Mining sector rose 8.6 per cent in October 2022 after expanding strongly by 15.0 per cent in September 2022. The growth was contributed by the increment of 11.4 per cent in Natural Gas index and 4.8 per cent in Crude Oil & Condensate index. As compared to the previous month, the Mining index increased by 1.8 per cent (September 2022: +3.8%).
Meanwhile, the Electricity index declined by 1.9 per cent in October 2022 as against positive growth of 4.1 per cent recorded in the previous month. In terms of month-on-month comparison, the Electricity index turned around to 1.5 per cent after two consecutive months on a declining trend (September 2022: -3.7%; August 2022: -0.2%).
The
IPI performance for the period of January to October 2022 recorded an expansion
of 7.5
per cent as compared to the same period of
the previous year. The increase was supported by the Manufacturing index (9.1%); Electricity index (5.4%) and Mining index (2.3%).
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Stack trace:
#0 /var/www/html/dosm/vendor/yiisoft/yii2/web/Response.php(341): yii\web\Response->sendHeaders()
#1 /var/www/html/dosm/vendor/yiisoft/yii2/web/ErrorHandler.php(136): yii\web\Response->send()
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#3 [internal function]: yii\base\ErrorHandler->handleException()
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Stack trace:
#0 /var/www/html/dosm/vendor/yiisoft/yii2/web/Response.php(341): yii\web\Response->sendHeaders()
#1 /var/www/html/dosm/vendor/yiisoft/yii2/base/Application.php(390): yii\web\Response->send()
#2 /var/www/html/dosm/www/index.php(24): yii\base\Application->run()
#3 {main}