Saudi Arabia’s Industrial Production Index (IPI) declined 15.5% year-on-year (YoY) to 105.73 points in May 2020, with 2010 used as the base year, data from the General Authority for Statistics (GASTAT) showed.
|
Industrial Production General Index |
||
|
Period |
Index (Points) |
MoM Variation |
|
Jan. 2019 |
130.43 |
(0.86%) |
|
Feb. |
129.29 |
(2.04%) |
|
March |
125.58 |
(5.96%) |
|
April |
126.34 |
(6.38%) |
|
May |
125.16 |
(9.00%) |
|
June |
126.61 |
(10.28%) |
|
July |
125.32 |
(9.10%) |
|
Aug. |
127.33 |
(7.27%) |
|
Sept. |
121.55 |
(11.29%) |
|
Oct. |
130.71 |
(2.45%) |
|
Nov. |
125.12 |
(8.10%) |
|
Dec. |
121.88 |
(6.35%) |
|
Jan. 2020 |
121.72 |
(6.68%) |
|
Feb. |
121.89 |
(5.72%) |
|
March |
121.45 |
(3.29%) |
|
April |
135.24 |
+7.04% |
|
May |
105.73 |
(15.52%) |
The drop in index was driven by the mining and quarrying activity that went down 12% by the end of May, as the Kingdom reduced oil production to 8.5 million barrels per day (mbpd) from 9.6 mbpd in May.
Similarly, the manufacturing industry activity plunged 26% over the same month due to COVID-19.
|
Industrial Production Index - May |
|||
|
Economic Activity |
May 2019 |
May 2020 |
Variation |
|
Mining and quarrying |
118.43 |
104.24 |
(12%) |
|
Manufacturing |
145.76 |
107.99 |
(26%) |
|
Electricity and gas |
137.57 |
126.45 |
(8%) |
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