Arab News, Thursday, Mar 09, 2023 | Sha'ban 17, 1444
Saudi Arabia’s Industrial Production Index rises 6.8% in January
Saudi Arabia:
Saudi Arabia’s Industrial Production Index rose
6.8 percent year-on-year in January, driven by high production in mining and
quarrying, and manufacturing activities, according to the latest report released
by the General Authority for Statistics.
IPI is an economic indicator that reflects the
relative changes in the volume of industrial output in the Kingdom, and it is
calculated based on the industrial production survey.
The GASTAT report noted that mining and quarrying
grew by 3 percent in January, compared to the same month of the previous year.
Mining and quarrying activities witnessed a surge
in January, as Saudi Arabia increased its oil production to more than 10 million
barrels per day.