Riyadh: GASTAT, the General Authority for Statistics, has released the Saudi Industrial Production Index (IPI) data for March 2022. The details are available on GASTAT’s website.
The Saudi Industrial Production Index jumped by 24.8% in March 2022 compared to the same month of the previous year (March 2021).
The IPI continued to show favorable growth rates due to increased industrial production resulting from higher output in the three sub-sectors, mining and quarrying, manufacturing, and electricity and gas.
According to the GASTAT, in March 2022, figures for mining and quarrying grew by 26.6% year on year. The manufacturing activity has continued its rise in March 2022.
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It has recovered from the effects of the Corona pandemic affecting all during the same period last year. The surge was also affected by the recovery of international trade.
Particularly the increase in Saudi exports during the current period. Saudi industrial production has increased by 22.0% compared to the same month of the previous year. The electricity and gas supplies rose by 1.4%.
In comparison to February 22, the overall IPI increased by 2.0%. The mining and quarrying sector showed a month-on-month growth rate of 0.7%.
The manufacturing sector grew by 6.0%, and electricity and gas supplies decreased by 1.3%. The effect of the contraction in the electricity and gas supplies index on the IPI remained limited to its small weight in the index.
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The IPI as an economic indicator reflects the relative changes in industrial output. Its calculations are based on the industrial production survey. The IPI data is collected and processed as per ISIC 4.
The International Standard Industrial Classification-based index is published every month.