GASTAT: Industrial Production Index Increased by 5% in October 2024

The General Authority for Statistics (GASTAT) released today its Industrial Production Index (IPI) report for October 2024.

According to the report, IPI increased by 5% compared to the same month of 2023. This growth was primarily driven by increased activity in mining and quarrying, manufacturing, electricity, gas, steam, and air conditioning supply, water supply, sewage, waste management and treatment.

The results showed an increase in the sub-index of mining and quarrying activity by 0.4% year-on-year, while oil activities increased by 5.4% and non-oil activities by 4% in October.

GASTAT regularly publishes various statistical products on the industrial sector. IPI is a key economic indicator that measures changes in the volume of industrial production based on data collected monthly through the industrial production survey.