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FinancialNews
12-01-23
GASTAT: Saudi industrial production index surges 8.6 percent in November last year
(MENAFN) Saudi Arabia’s Industrial Production Index went up 8.6 percent annually in November last year, mainly led by great manufacture in mining and quarrying, and industrial activities, in line with the most recent statement from the General Authority for Statistics.
The report stated that mining and quarrying raised by 5.7 percent in November last year, in comparison with the similar time span in 2021, as the Kingdom enlarged the oil manufacture to more than 10 million barrels in the month.
Agreeing with the report, industrial activities in the Kingdom grown by 19.7 percent yearly in November, whereas electricity and gas deliveries reduced by 10.9 percent.
“Relative weights of the mining and quarrying, manufacturing, and electricity and gas supply sectors in the IPI are 74.5 percent, 22.6 percent and 2.9 percent, respectively. Thus, the trend of the industrial production index in the mining and quarrying sector dominates the trend in the general IPI,” according to GASTAT in the report.
MENAFN12012023000045014228ID1105418602
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