Saudi Arabia’s Industrial Production Index (IPI) in June 2022 increased by 20.8% compared to June 2021, says a SPA report. The IPI continued to show positive growth rates due to the high production in mining, quarrying, and manufacturing activity, according to the General Authority for Statistics’ (GASTAT) monthly report.
In June 2022, mining and quarrying grew by 19.2% compared to June 2021. The manufacturing activity increased by 29.3% compared to the same month of the previous year while the electricity and gas supplies decreased by 1.2%.
Compared to May 2022, the overall IPI increased by 1.0%. Mining and quarrying showed a month-on-month growth rate of 1.0%. The manufacturing sector stabilized at the level of the previous month; electricity and gas supplies increased by 9.3%.
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.--TradeArabia News Service