The Index of Industrial Production (IIP) increased 3 per cent in the fourth quarter of 2022, the lowest rise during the year, according to the General Statistics Office.

This was due to declining orders in markets, high production input costs, and a shortage of raw materials supply.

The IIP for the year as a whole, however, increased 7.8 per cent against 2021.

The industrial sector’s added value rose 7.69 per cent in 2022 compared to last year.

Manufacturing and processing increased 8.1 per cent; electricity production and distribution 7.05 per cent; water supply, waste and wastewater management, and treatment activities 7.45 per cent; and mining 5.19 per cent.