Saudi Industrial Production Index rises by 7.3% in December 2022


 Saudi Arabia’s industrial production index (IPI) for December 2022 witnessed a 7.3 percent increase compared to the same period last year, Saudi Press Agency (SPA) reported on Thursday.

A surge in mining, quarrying, and manufacturing activity helped the growth in IPI, according to a report published by Saudi General Authority for Statistics (GASTAT) on its official website on Wednesday.

The results of the index’s monthly publication revealed that the mining and quarrying activity index for December 2022 increased by 4.1 percent compared to the same period in the previous year (December 2021).

Manufacturing activity also increased by 18.5 percent in December 2022 compared to the same period last year, while electricity and gas supply activity decreased by 6.5 percent.

GASTAT issues a number of industry-related statistics, including the industrial production index (IPI), which is an economic indicator that reflects relative changes and evolution in the volume of industrial production based on the data of the industrial production survey.