Qatar’s Industrial Production Index (IPI) for October this year increases 3 percent, Planning and Statistics Authority has stated in their recent report.
Qatar , Qatar
21 December 2020, 12:00 AM
31 December 2020, 12:00 AM
The Industrial Production Index (IPI) for October this year amounted to 103.1 points, an increase of 3 percent compared to the previous month and a decrease of 0.9 percent when compared to the corresponding month in 2019, according to a report issued by the Planning and Statistics Authority (PSA) on Saturday.
The IPI consists of three main components- ‘Mining’ with a relative importance of 83.6 percent, ‘Manufacturing’ with a relative importance of 15.2 percent, ‘Electricity’ with a relative importance of 0.7 percent, and ‘Water’ with a relative importance of 0.5 percent.
Meanwhile, Qatar’s economy is expected to grow by 3.3 percent in 2021, with the GCC region as a whole on course for 3.9 percent growth, according to HSBC economists who provided their outlook on global and regional economies at an online event yesterday.
The HSBC’s Global Economic Outlook virtual roadshow has come to Qatar, which saw the particicpation of 124 HSBC clients.
Simon Williams, Chief Economist for Central & Eastern Europe, Middle East and Africa (CEEMEA) said: “We see Qatar growth rebounding to around 3.5 percent next year and, critically, look for further acceleration in 2022. The run-up to the 2022 FIFA World Cup should also anchor demand growth, as final-phase investment work is complete and the tournament itself is set to give a major lift to the export-orientated services sector.”