A factory production line
Saudi Arabia’s Industrial Production Index (IPI) rose 6% year-on-year (YoY) in February.
Data issued by the General Authority for Statistics (GASTAT) showed that Saudi IPI rose to 134.6 points in February, according to the base year 2010, compared to 127.0 points in the year-ago period.
The index continued to expand on the growth trends in the mining and quarrying, manufacturing activities, as well as the electricity and gas supply, the authority said.
The IPI measures the relative change and reflects the production quantities of materials and goods, which have been converted from raw materials to consumables in their final form as goods, for the purpose of achieving a monetary return.
The following table shows the development of the index:
|
IPI* |
||
|
Period |
Index (Points) |
YoY Change |
|
January 2022 |
125.94 |
+11.1% |
|
February |
127.01 |
+22.3% |
|
March |
129.51 |
+24.8% |
|
April |
130.17 |
+26.7% |
|
May |
131.78 |
+24.0% |
|
June |
133.08 |
+20.8% |
|
July |
135.23 |
+17.7% |
|
August |
139.09 |
+16.8% |
|
September |
138.50 |
+15.7% |
|
October |
138.97 |
+14.1% |
|
November |
134.83 |
+8.6% |
|
December |
134.38 |
+7.3% |
|
January 2023 |
134.50 |
+6.8% |
|
February |
134.60 |
+6% |
*Updated data according to GASTAT.
The mining and quarrying activity rose by 2% YoY as the Kingdom’s oil production reached more than 10 million barrels per day in February.
The manufacturing activity recorded a 17% YoY increase, while the electricity and gas supply activity edged up by 13% YoY.
The following table shows the IPI value as per its constituent activities:
|
IPI by Activity |
|||
|
Main Sectors |
February 2022 |
February 2023 |
Change |
|
Mining & Quarrying |
125.7 |
128.5 |
+2% |
|
Manufacturing |
136.2 |
159.1 |
+17% |
|
Electricity & Gas Supply |
89.3 |
100.8 |
+13% |
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