The Industrial Production Index In Saudi Arabia Rises 7.3% In December

The index of the record for industrial production quantities in the Kingdom of Saudi Arabia recorded a growth of 7.3% during the month of December 2022 on an annual basis; To continue the positive range of the 20th month in a row.

The General Authority for Statistics said, in its monthly report issued today, Thursday, that the industrial production index continued to achieve positive growth trends by the end of last December; As a result of the high production in mining and quarry exploitation, and the activity of manufacturing.

The Statistics Authority added that when looking at a longer period, it can be noted that the growth of the industrial production record has become positive since May 2021; This is after a series of months that witnessed negative growth rates in 2019 and 2020; Partially influenced by the international epidemic.

The statistics added: The index continued in the upward trend in the following months, rapidly at the end of 2021, and continued to rise during the year 2022.

Production in mining and quarry exploitation increased by 4.1% during December 2022 on an annual basis; The Kingdom’s oil production reached more than 10 million barrels per day.

The Statistics Authority pointed out that the activity of the manufacturing continued during the month of December to rise by 18.5% on an annual basis, while the electricity and gas supply activity decreased by 6.5%.

On a monthly basis, the industrial production index in Saudi Arabia decreased in December 2022 by 0.3% compared to November; It is affected by the decline in mining activity and the exploitation of quarries by 0.3%, and the decrease in electricity and gas supply activity by 5.3%.