News Update

Coal, natural gas, crude oil, petroleum refinery products, fertilisers, steel, cement and electricity industries grow by 3.7% in January

• ByStartupStory     |    March 1, 2022

As compared to the same period last year, in January 2022, the growth rate of eight core industries grew by about 3.7 percent, said the Ministry of Commerce on February 28. The core industries growth rate was recorded as 11.6 percent for the nine-month period between April and January, the ministry said. In December 2021, the growth of 4.1 percent was seen in the eight core sectors – coal, natural gas, crude oil, petroleum refinery products, fertilisers, steel, cement and electricity.

An official statement states that over the corresponding period of last year the production of coal, natural gas, refinery products, steel, cement, and electricity industries increased in January 2022. It further shows that in January 2022, the combined Index of Eight Core Industries stood at 144.4, as compared to the index of January 2021 which by 3.7 percent.

In January 2022, coal production grew by 8.2 percent. Wherein over the corresponding period of the previous year, from April to January, its cumulative index increased by 10.3 percent. In the past month, Petroleum refinery production climbed by 3.7 percent, and during April to January period, the cumulative index increased by 9.3 percent. An increase of 2.8 percent in January 2022 was also seen in steel production and its cumulative index from April to January rose by 19.9 percent.

Last month an increase in cement production by 13.6 percent was also seen and in the nine-month period ending January 2022, the cumulative index surged by 24.6 percent. The growth by 0.5 percent was also seen in electricity generation in the past month, and in the April-January period, the cumulative index increased by 8.5 percent. However, crude oil production took a hit last month as it declined by 2.4 percent, and a drop by 2.6 percent in its cumulative index was also noticed in the nine-month period ending January 2022.

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