GASTAT: Saudi IPI grew almost 25% YoY in March

Saudi Arabia’s Industrial Production Index (IPI) grew by 24.8% in March 2022 from a year earlier driven by mining and quarrying increase, manufacturing and electricity & gas supplies, official data showed today.

This was again the highest (Y/Y) growth rate during the last three years, according to data released by the General Authority for Statistics, also known as GASTAT.

IPI’s positive growth is attributed to higher production in its two main sub-sectors – mining and quarrying which gained 26.6% and manufacturing which increased 22%, while electricity & gas supplies rose 1.4% compared to the same month of 2021.

The IPI advanced 2% compared to February 2022 boosted by mining and quarrying which gained 0.7%, manufacturing (6%+), while electricity & gas supplies declined 1.3%.

It is worth noting that the General Authority for Statistics releases several industrial-related data including IPI on a monthly basis.