PHOTO
27 October 2016
By Santhosh V. Perumal
A rebound in global oil market has lifted the sentiments of domestic industrial sector as Qatar’s producers price index (PPI) rose about 3% in August compared to that in previous month, according to official figures.
The overall month-on-month increase in PPI has been largely on account of stronger prices for crude and natural gas, man-made fibres and utilities, the Ministry of Development Planning and Statistics (MDPS) data revealed.
Qatar’s PPI for the industrial sector a measure of the average selling prices received by the domestic producers for their output however, reported 17.7% decline year-on-year in August 2016 but better than the previous months’ levels of about 30% plunge.
MDPS had released a new PPI series in late 2015. With a base of 2013, it draws on an updated sampling frame and new weights. The previous sampling frame dates from 2006, when the Qatari economy was much smaller than today and the range of products made domestically much narrower.
The PPI for mining, which carries the maximum weight of 72.7%, saw its group index surge 5.7% month-on-month in August this year on the back of 5.7% increase in the price of crude and natural gas; even as prices of stone, sand and clay was down 0.1%.
The PPI for mining witnessed the maximum plunge of 19.5% year-on-year in August 2016 owing to a 19.6% slump in the price of crude petroleum and natural gas; although stone, sand and clay prices firmed up 1.7%.
The utilities group, which has a mere 0.5% weightage in the PPI basket, saw its index gain 3.1% month-on-month in August this year as water and electricity prices soared 5.3% and 1.3% respectively.
The index had risen 3% year-on-year, mainly on 13.8% surge in the price of water; although water prices shrank 4.3%.
However, the manufacturing sector, which has a weight of 26.8% in the PPI basket, witnessed 2.1% fall in its index month-on-month in August 2016 because of 3.7% shrinkage in the price of basic metals, 3% in refined petroleum products, 1% in grain mill and other products, 0.8% in rubber and plastic products, 0.5% in cement and other non-metallic products and 0.4% in beverages.
Nevertheless, there was 4.5% and 0.3% increase in the prices of man-made fibres and basic chemicals respectively; even as prices of juices, dairy products and paper products stood unchanged month-on-month.
The manufacturing sector PPI had seen 14.6% shrinkage year-on-year on account of 21% plunge in the price of basic chemicals, 15.4% in refined petroleum products, 7.8% in basic metals, 1.6% in dairy products and 1% in grain mill and other products.
However, there was 11.6% jump in the price of juices, 3.8% in man-made fibres, 3.6% each in rubber and plastics products and cement and other non-metallic products; and 1% in beverages. Paper and paper products saw their prices remain firm on a yearly basis.
By Santhosh V. Perumal
A rebound in global oil market has lifted the sentiments of domestic industrial sector as Qatar’s producers price index (PPI) rose about 3% in August compared to that in previous month, according to official figures.
The overall month-on-month increase in PPI has been largely on account of stronger prices for crude and natural gas, man-made fibres and utilities, the Ministry of Development Planning and Statistics (MDPS) data revealed.
Qatar’s PPI for the industrial sector a measure of the average selling prices received by the domestic producers for their output however, reported 17.7% decline year-on-year in August 2016 but better than the previous months’ levels of about 30% plunge.
MDPS had released a new PPI series in late 2015. With a base of 2013, it draws on an updated sampling frame and new weights. The previous sampling frame dates from 2006, when the Qatari economy was much smaller than today and the range of products made domestically much narrower.
The PPI for mining, which carries the maximum weight of 72.7%, saw its group index surge 5.7% month-on-month in August this year on the back of 5.7% increase in the price of crude and natural gas; even as prices of stone, sand and clay was down 0.1%.
The PPI for mining witnessed the maximum plunge of 19.5% year-on-year in August 2016 owing to a 19.6% slump in the price of crude petroleum and natural gas; although stone, sand and clay prices firmed up 1.7%.
The utilities group, which has a mere 0.5% weightage in the PPI basket, saw its index gain 3.1% month-on-month in August this year as water and electricity prices soared 5.3% and 1.3% respectively.
The index had risen 3% year-on-year, mainly on 13.8% surge in the price of water; although water prices shrank 4.3%.
However, the manufacturing sector, which has a weight of 26.8% in the PPI basket, witnessed 2.1% fall in its index month-on-month in August 2016 because of 3.7% shrinkage in the price of basic metals, 3% in refined petroleum products, 1% in grain mill and other products, 0.8% in rubber and plastic products, 0.5% in cement and other non-metallic products and 0.4% in beverages.
Nevertheless, there was 4.5% and 0.3% increase in the prices of man-made fibres and basic chemicals respectively; even as prices of juices, dairy products and paper products stood unchanged month-on-month.
The manufacturing sector PPI had seen 14.6% shrinkage year-on-year on account of 21% plunge in the price of basic chemicals, 15.4% in refined petroleum products, 7.8% in basic metals, 1.6% in dairy products and 1% in grain mill and other products.
However, there was 11.6% jump in the price of juices, 3.8% in man-made fibres, 3.6% each in rubber and plastics products and cement and other non-metallic products; and 1% in beverages. Paper and paper products saw their prices remain firm on a yearly basis.
© Gulf Times 2016
