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Friday, Jul 01, 2022

IPI in Saudi Arabia surges by 26.7% 

IPI in Saudi Arabia surges by 26.7% 

The Industrial Production Index (IPI) in Saudi Arabia increased by 26.7% in April 2022 compared to the same month of the previous year (April 2021), the General Authority for Statistics (GASTAT) revealed on Thursday.
The IPI continued to show positive growth rates due to the high production in mining, quarrying, and manufacturing activity.

According to the GASTAT’s monthly report, mining and quarrying grew in April 2022 by 28.3% compared to (April 2021).

The manufacturing activity also increased by 25.1% compared to the same month of the previous year. The electricity and gas supplies decreased by 2.0%.

Compared to March 2022, the overall IPI increased by 0.5%. Mining and quarrying showed a month-on-month growth rate of 1.3%.

The manufacturing sector decreased by 2.0%, electricity and gas supplies increased by 2.1%.

The IPI is an economic indicator that reflects the relative changes of the volume of industrial output. It is calculated based on the industrial production survey.

The IPI data is based on the International Standard Industrial Classification of Economic Activities (ISIC 4). This index is published on a monthly basis.

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