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GASTAT: Saudi Arabia’s Industrial Production Index rises by 17.7 percent
(MENAFN) In July, Saudi Arabia's Industrial Production Index rose by 17.7 percent in comparison to the same month last year. According to official figures, the three subsectors of manufacturing, electricity and gas supply, and mining and quarrying all produced at high levels, which significantly contributed to the rise.
The General Authority for Statistics said that mining and quarrying climbed by 14.1 percent in July compared to the same month last year as Saudi Arabia lifted oil output to its highest level by more than 10 million barrels per day in July this year.
When compared to the same month last year, industrial activity grew by 32.6 percent. The study also noted a 5 percent rise in gas and power supply. According to GASTAT, IPI is an economic indicator that indicates the relative changes in the amount of industrial production.
IPI is still exhibiting positive tendencies, but for the third consecutive month, it has slowed down from a 26.7 year-over-year gain in April.
The General Authority for Statistics said that mining and quarrying climbed by 14.1 percent in July compared to the same month last year as Saudi Arabia lifted oil output to its highest level by more than 10 million barrels per day in July this year.
When compared to the same month last year, industrial activity grew by 32.6 percent. The study also noted a 5 percent rise in gas and power supply. According to GASTAT, IPI is an economic indicator that indicates the relative changes in the amount of industrial production.
IPI is still exhibiting positive tendencies, but for the third consecutive month, it has slowed down from a 26.7 year-over-year gain in April.
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