Q1-3 Fiscal 2021-22 IPI Up 3.4% YOY

Industrial Production Index for large industrial units released by the Central Bank of Iran increased by 3.4% over the nine-month period to December 21, 2021, compared to the preceding year’s corresponding period. 
Q1 and Q3 of fiscal 2021-22 saw year-on-year growth of 5.5% and 6.4% in IPI while power outages during summer and consequent disruptions in industrial production resulted in a 1.4% decrease in Q2 growth.   
IPI is an economic indicator measuring real output in various industries, with industrial production and capacity levels expressed as an index level relative to a base year, which CBI considers to be fiscal 2011-12, standing at 100. 
In other words, the index does not express absolute production volumes or values, but the percentage change in production relative to that year. The Central Bank of Iran calculates IPI using data on large industrial units with 100 workers or more active in 24 industries. 
The report indicates that 18 industrial groups posted YOY growth during the nine-month period. “Pharmaceutical industry, including chemical and plant-based drug production” registered a growth of 20.9%; “food industries” 6.6%; “motor vehicle, trailer and semi-trailer manufacturing industries” 7.1%; “chemicals” 1.5%; and “electricity generating machines manufacturing industries” registered an IPI growth of 12.2%. 
Six industries, on the other hand, were in negative territory with “base metal production industries” with 1.3%, “non-metal mineral industries” with 1.4%, and “computer, electrical and optical products manufacturing industries” with 5.6% YOY.