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EXPLANATION OF TERMINOLOGY, CONTENT AND
METHODOLOGY OF SOME STATISTICAL INDICATORS ON INDUSTRY
Index of industrial production
(IIP) is an indicator that evaluates the growth
rate of industrial production every month, quarter and year. The index is calculated by
the quantity of production, therefore it is also called “the index of quantity of
industrial production”. The IIP is an important indicator quickly reflecting the
situation of industrial production growth in general and the growth rate of each
commodity in particular; satisfying the information needs of the State agencies,
investors and other users.
TheIIP is calculated as the percentage of the quantity of industrial production
generated in the current and base periods.
The calculation of the IIP begins with the calculation of production index of
commodity. From the production index of commodity, production indexes of
VSIC 4-digit classes,VSIC 2-digit division, VSIC 4-digit,VSIC 1-digit sectors
and the whole industry can be calculated and so can the IIP for a certain province
or the whole country.
Calculation process:
- Step 1: Calculating production index of an item
Formula:
i
qn
=
q
n
1
100
q
n
0
Where:
i
qn
: Production indexof the itemn (For example: electricity, coal, fabric, cement, etc);
q
n1
: Quantity produced of item n in the reference period.
q
n0
: Quantity produced of item n in the base period.
- Step 2: Calculating production index of VSIC 4-digit classes
The production index at 4-digit class of VSIC industry is the weighted
average index of indexes of items representing for such VSIC 4-digit classes.
Formula:
qn
qn
qn
4qN
W
W I
I