Industrial production looks up again, expands by 2% in January
13 Mar 2020
Industrial production in the country based on the Index of Industrial Production (IIP) expanded by 2 per cent year-on-year in January 2020 against a decline of 0.3 per cent in December 2019, quick estimates released by the ministry of statistics and programme implementation showed.
Cumulative growth of industrial production for the period April-January 2019-20 stands at 0.5 per cent.
Production in the mining, manufacturing and electricity sectors in January 2020 recorded growth rates of 4.4 per cent, 1.5 per cent and 3.1 per cent, respectively. These sectors recorded cumulative growth rates of 1.0 per cent, 0.3 per cent and 0.9 per cent, respectively, during April-January 2019-20.
Eleven out of the 23 industry groups in the manufacturing sector have shown positive growth during January 2020. The industry group ‘tobacco products’ has shown the highest growth of 22.8 per cent, followed by ‘basic metals’ (14.1 per cent) and ‘furniture’ (9.0 per cent).
On the other hand, the industry group ‘printing and reproduction of recorded media’ has shown the highest negative growth of (-) 16.3 per cent followed by ‘computer, electronic and optical products’ (-) 11.6 per cent and ‘motor vehicles, trailers and semi-trailers’ (-) 10.6 per cent.
Primary goods production increased by 1.8 per cent in January 2020 while capital goods production declined by 4.3 per cent. Intermediate goods production expanded by 15.8 per cent while production in the infrastructure/ construction goods sector declined by 2.2 per cent.
Production of consumer durables and consumer non-durables have recorded growth rates of (-) 4.0 per cent and (-) 0.3 per cent, respectively.
Along with the quick estimates of IIP for January 2020, the indices for December 2019 have undergone the first revision and those for October 2019 have undergone the final revision in the light of the updated data received from the source agencies.