Arab News, Tuesday, Jan 10, 2023 | Jamadi Al Thani 17, 1444
Saudi industrial production index rises 8.6% in November 2022: GASTAT
Saudi Arabia’s Industrial Production Index rose 8.6 percent year-on-year in
November 2022, primarily driven by high production in mining and quarrying, and
manufacturing activities, according to the latest report from the General
Authority for Statistics.
The report noted that mining and quarrying grew by
5.7 percent in November 2022, compared to the same period in 2021, as the
Kingdom increased the oil production to more than 10 million barrels in the
According to the report, manufacturing activities
in the Kingdom increased by 19.7 percent year-on-year in November, while
electricity and gas supplies decreased by 10.9 percent.
“Relative weights of the mining and quarrying,
manufacturing, and electricity and gas supply sectors in the IPI are 74.5
percent, 22.6 percent and 2.9 percent, respectively. Thus, the trend of the
industrial production index in the mining and quarrying sector dominates the
trend in the general IPI,” said GASTAT in the report.
Saudi Arabia’s IPI turned positive in May 2021 and
has been growing continuously since then. This turnaround comes after negative
trends witnessed during 2019 and 2020 due to the impacts of the pandemic.
According to GASTAT, IPI is an economic indicator
that reflects the relative changes in the volume of industrial output.