Tuesday, 16 July 2024

GASTAT: Saudi Industrial Production Up by 5.8 % in August 2021

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In August 2021, the Industrial Production Index increased by 5.8 % compared to the same month of the previous year (August 2020), the General Authority for Statistics (GASTAT) revealed on Sunday.

The increase of industrial production resulted from the higher production in mining and quarrying activity (index weight shares 74.5) which increased by 6.5%. Saudi Arabia increased its oil production from 8.9 million barrels per day in August 2020 to 9.5 million barrels per day in August 2021.

Also manufacturing activities increased by 5%, in August 2021 compared to the same month last year.

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Saudi Arabia’s industrial production is driven by mining and quarrying activity including oil production, which increased in August by 6.5%, as Saudi oil production operated at high volumes.

The Industrial Production Index (IPI) is an economic indicator, reflecting 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 (ISIC_ 4). This index is published on a monthly basis.

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