The General Authority for Statistics (GASTAT) published today on its official website the results of the Industrial Production Index (IPI). In September 2022, the IPI increased by 15.7% compared to September 2021. The IPI continued to show positive growth rates due to the high production in mining & quarrying, manufacturing activity, and electricity and gas supply. In September 2022, mining and quarrying grew by 14.2% compared to September 2021 as Saudi Arabia increased its oil production to more than 11 million barrels per day in September 2022. Manufacturing activity increased by 22% compared to the same month of the previous year. Electricity and gas supplies increased by 5.5%. Taking a longer-term view, growth of the IPI turned positive in May 2021 after a long period of negative growth rates in 2019 and 2020, partly impacted by the effects of the worldwide pandemic. The IPI is an economic indicator that reflects the relative changes of the volume of industrial output. It is calculated based on the industrial production survey. The IPI data is based on the International Standard Industrial Classification of Economic Activities. This index is published on a monthly basis.
