Dubai Statistics Center: Dubai’s Manufacturing Index Records a Rise of 3.4%
Image: DSC Logo
The Producer Price Index of the manufacturing sector in Dubai rose by 3.42% by Q3 of 2017 compared to a rise by 6.26% in the same period of 2016.
A report issued by Dubai Statistics Center (DSC) has indicated a rise in the General Producer Price Index of the manufacturing sector accrediting such an increase to a rise in prices of refined petroleum products by 18.97%. This contributed to pushing the general number of industrial product high by 3.04%. indeed, the rise in prices of products of this activity contributed by 88.8% in the overall change in the general price of industrial product prices.
The prices of leather products and relevant products hit a rise point by 6.15%, other manufacturing industries by 4.22%, other non-metallic mineral products by 1.64%, food products by 1.52%, motor vehicles, trailers and semitrailers by 1.28% and paper and paper products by 0.50%.
Certain industries recorded a decline in prices up to Q3 of 2017. Prices of repairing and installing machinery and equipment dropped by 7.82%, clothing by 7.34%, chemicals and chemical products by 4.01%, rubber and plastic products by 2.08%, tobacco products by 1.95% electrical equipment by 1.79%, metal products except machinery and equipment by 0.70% and finally textiles declined by 0.10%.
The General Product Price Index assigned for the manufacturing sector recorded a decline of 6.26% during 2016 compared to prices of 2015. The report attributed such a drop to a shrink in prices of refined petroleum products by 21.33% which contributed to the decline of General Producer Price Index by 4.17%, that is the decline of products prices of this activity contributed to the total decline by 67%. This drop coincided also with the decline in prices of articles of asphalt or similar insulating materials by 11.57%, which contributed to pushing the General Product Price Index to drop by 1.4%. By this, both activities of articles of asphalt or similar insulating materials and refined petroleum products contributed by 89% of the decline in the general level of the industrial product prices.