image description
image description
Tell A Friend

Archives


  • 13-07-22

    Saudi Arabia’s industrial production records third-highest surge since 2019

    (MENAFN) As shown by official data the Saudi Industrial Production Index rose 24 percent in May compared to the same month in 2021, mainly motivated by high output in the three subsectors — manufacturing, mining as well as quarrying, electricity in addition to gas supplies.

    In line with a report from the General Authority for Statistics, this is the third-highest increase since 2019, a solid sign of the industrial sectors regains after the epidemic.

    GASTAT mentioned in the report that “Growth of the IPI turned positive in May 2021 after a long period of negative growth rates in 2019 and 2020, partly impacted by the effects of the worldwide pandemic. Since mid-2021, the IPI growth showed a positive trend, accelerating at the end of 2021 to now.”

    This optimistic performance was mostly because of a 23.3 percent surge in mining as well as quarrying area, which contains oil outputs as well.

    MENAFN13072022000045014228ID1104523230

Follow us

RSS
Terms & Conditions  |  Privacy & Security  |  Contact Us  | Sitemap
© 2024 BBK  |  All Rights Reserved