Saudi Industrial Production Index Rises in January

Saudi Arabia’s Industrial Production Index rose 6.8% 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% 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.