Iran's industrial activity rose by 11.3% in Dec quarter

According to data from the Central Bank of Iran (CBI), industrial activity in Iran increased by 11.3% in the quarter ending December 21 last year compared to the same period in 2021.

Iran (IMNA) - Based on CBI numbers released in a Wednesday article, Iran's large-scale manufacturing index (LSMI) hit 130.5 in the third quarter of the previous calendar year.

According to the data, the figure increased by 22.6% when compared to the December quarter of 2019.

It claimed that between the third quarter of 2016 and late December of 2017, the LSMI, an indicator that measures activity in manufacturing firms with more than 100 employees, had climbed by 8.3% in Iran.

Iran's industrial activity rose by 11.3% in Dec quarter

The study also stated that double-digit increase had occurred in the December quarter across 15 of the 33 manufacturing sectors taken into account by the LSMI index.

As indicated by CBI data, manufacturing sectors such as garments and shoes, machinery and equipment, textiles, and motor vehicles had faster development than energy-intensive industries such as petrochemicals and oil products.

According to the report, manufacture of machinery and equipment in Iran virtually doubled year on year in the quarter ending in late December.

In recent years, Iran has sought more activity in its manufacturing sector as part of measures to diversify its economy away from crude oil and generate more jobs for the country's young.

News ID 657394

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