The Quarterly Index of Industrial Production (QIIP), Second quarter 2009
(Year 2002 = 100)
Highlights

1. The Quarterly Index of Industrial Production shows the evolution of the volume or real output of the Industrial Sector comprising “Mining and quarrying”, “Manufacturing” and “Electricity, gas and water supply”. Within “Manufacturing”, estimates by broad group, namely, enterprises formerly holding an EPZ certificate, Non-EPZ and “Sugar milling” as well as by main industrial grouping are given. Indices for the Export Oriented Enterprises (EOE) sector can be considered as being same as for enterprises formerly holding an EPZ certificate, as the latter group constitutes more than 95% of the EOE sector.

The Industrial Sector
2. In the second quarter of 2009 the overall index of industrial production increased by 16.7% compared to the previous quarter, and decreased by 0.8% compared to the corresponding quarter of 2008. In the year ending second quarter 2009, i.e. third quarter 2008 to second quarter 2009, real industrial output went down by 2.4% compared to the corresponding period a year before. This is explained mainly by decreases in the real output of “Mining and quarrying” (-14.5%), “EPZ/EOE” (-2.0%) and “Non-EPZ” (-5.7%) partly offset by increases of 9.1% and 2.8% in “Sugar Milling” and “Electricity, gas and water supply” respectively.

3. The real output of “Mining and quarrying” decreased by 40.1% compared to the previous quarter and by 48.0% compared to the corresponding quarter of 2008. In the year ending second quarter 2009, real output went down by 14.5%.

4. Manufacturing output in the second quarter of 2009 increased by 20.9% compared to the previous quarter, and decreased by 1.1% when compared to the corresponding quarter of 2008. In the year ending second quarter 2009, real output went down by 3.2%. This is explained by decreases of 2.0% and 5.7% in “EPZ/EOE” and “Non-EPZ” respectively, partly offset by an increase of 9.1% in “Sugar Milling”.

5. Within “Manufacturing”, real output of the “EPZ/EOE” increased by 20.4% in the second quarter of 2009 compared to the first quarter of 2009 and decreased by 3.6% when compared to the corresponding quarter of 2008. In the year ending second quarter 2009, it receded by 2.0%.

6. Output of large “Non-EPZ” establishments, showed an increase of 20.0% in the second quarter of 2009 compared to the previous quarter and an increase of 0.2% compared to the corresponding quarter of 2008. For the year ending second quarter 2009, the index went down by 5.7%.

7. In the second quarter of 2009, real output of “Electricity, gas and water supply” went down by 3.0% when compared to the previous quarter but grew by 2.5% when compared to the corresponding quarter of 2008. In the year ending second quarter 2009, it is estimated to have moved up by 2.8%.