Saudi Arabia's industrial production index (IPI) for August has increased by 16.8% compared to the same period last year, reported SPA, citing the General Authority for Statistics (GASTAT) data.
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.
According to GASTAT, the August IPI continued to show a positive growth rates due to the high production in mining and quarrying, manufacturing activity, and electricity and gas supply.
For the month, the mining and quarrying grew by 15.5% compared to the same period last year, while the manufacturing activity was up 22% over August 2021. The electricity and gas supplies too increased by 11.3%.
As per the GASTAT data, compared to July, the overall IPI increased by 2.9%. In case of mining and quarrying it showed a month-on-month growth rate of 2.2%, reported SPA.
The manufacturing sector increased by 3.9%, while the electricity & gas supplies increased by 10.6%, it added.
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