Saudi industrial output grows 8.6% in November
RIYADH, January 11, 2023
Saudi Arabia's Industrial Production Index (IPI) increased by 8.6% in November 2022 compared to the same month in 2021, said General Authority for Statistics (GASTAT) data.
The IPI continued to show positive growth rates due to the high production in mining, quarrying, and manufacturing activity, the data showed, according to a Saudi Press Agency (SPA) report.
In November 2022, mining and quarrying grew by 5.7% compared to November 2021. Manufacturing activity increased by 19.7% compared to the same month of the previous year. Electricity and gas supplies decreased by 10.9%.
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), SPA said.
