‎Saudi industrial production index up 4.1% in March

‎Saudi industrial production index up 4.1% in March

Saudi Arabia’s Industrial Production Index (IPI) accelerated by 4.1% year-on-year (YoY) in March.

Data issued by the General Authority for Statistics (GASTAT) showed that Saudi IPI rose to 134.8 points in March, according to the base year 2010, compared to 129.5 points in the year-ago period.

The index extended its positive growth trends, driven by higher production in the mining and quarrying as well as manufacturing activities, GASTAT said.

The IPI measures the relative change and reflects the production quantities of materials and goods, which have been converted from raw materials to consumables in their final form as goods, for the purpose of achieving a monetary return.

The following table shows the development of the index:

The mining and quarrying activity rose by 2% YoY as the Kingdom’s oil production surpassed 10 million barrels per day in March.

The manufacturing activity maintained growth, jumping 11% YoY. The electricity and gas supply activity also saw an increase of 17% YoY.

The following table shows IPI value by activity:

Details and Historical Data for Macro Economy