Starting tomorrow, the National Institute of Statistics and Censuses (Indec) will publish the Industrial Mining Production Index (IPI minero) monthly.a new report that will reveal the evolution of 79 products from more than 600 establishments in the sector.
The agency specified that “it is a situation indicator whose main objective is to measure the evolution of the sector’s production, that is, the exploitation of mines and quarries.”
The economic sectors surveyed for the elaboration of the indicator will be: extraction of crude oil and natural gas; support services for the extraction of crude oil and natural gas; and extraction of metallic and non-metallic minerals and application rocks.
In this regard, the director of INDEC, Marco Lavagna, maintained that “The index will allow us to measure how one of the leading sectors of current Argentine economic activity behaves and the potential growth in the extraction of resources such as oil, gas, lithium, gold, silver and fracture sand, among others”.
“This is an essential input for the public, private and academia sectors to be able to carry out precise analyzes of Argentine mining activity,” the official added.
The purpose of the Mining IPI will be to characterize and publicize the monthly evolution of 79 products from more than 600 establishmentsand update the primary statistical information through surveys with questionnaires and the use of administrative records.
The tasks will be in charge of the Directorate of Mining, Manufacturing, Energy and Construction Statistics, dependent on the National Directorate of Economic Statistics of INDEC.
With geographic coverage of the entire country, the Mining IPI will be presented with a series that begins in January 2017.
Among the technical aspects, it was reported that the results will be presented in three statistical series: original, seasonally adjusted and trend-cycle, in index numbers and percentage variations, whose base period is 2016, the year in which the last national census was carried out at the mining activity.
From a macroeconomic perspective, the new indicator will help “evaluate the relationship between a set of changes in the volume of production with changes in employment, GDP, national income, foreign trade and other aggregates,” said INDEC.
On the other hand, in the microeconomic analysis, it will allow observing and making performance comparisons in each industry or carrying out analysis of the relative changes in productivity.
Source: Ambito
