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  • 09-02-23

    GASTAT: Saudi Arabia’s Industrial Production Index surges 7.3 percent in December 2022 YoY

    (MENAFN) Saudi Arabia’s Industrial Production Index saw a surge of 7.3 percent on a yearly basis in December last year, mainly triggered by peak output in mining and quarrying, as well as production activities, a new report issued by the General Authority for Statistics indicated.

    Following months of pessimistic trends in 2019 and 2020 because of the COVID-19 epidemic, Saudi Arabia’s IPI regained momentum in May two years ago and has been increasing progressively ever since.

    GASTAT report pointed out that the mining and quarrying industry increased by 4.3 percent in December last year in comparison with the same month in the year before (2021).

    Saudi Arabia’s mining and quarrying actions also rose as the nation surged its oil output to over 10 million barrels a day in December last year.

    The report additionally mentioned that production actions saw jump of 18.5 percent in the stated month, in comparison with the same period a year before.

    MENAFN09022023000045014228ID1105547914

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