Saudi industrial production index up 7.7% in October

10/12/2021 Argaam Special

A production line in a plant


Saudi Arabia’s Industrial Production Index (IPI) rose by 7.7% to 121.78 points in October 2021, with 2010 used as the base year, compared to 113.06 points in October 2020, data from the General Authority for Statistics (GASTAT) showed.

 

The IPI measures relative change and reflects the progress of production volumes of materials and goods, which is converted from raw materials into final consumables in the form of commodities, for the purpose of achieving a return.

 

The following table shows the development of the industrial production index:

 

Industrial Production Index (IPI)

Period

Index (Points)

YoY Variation

January 2020

121.72

(6.68%)

February

121.89

(5.72%)

March

121.45

(3.29%)

April

135.24

+7.04%

May

105.73

(15.52%)

June

98.45

(22.24%)

July

108.52

(13.41%)

August

112.58

(11.59%)

September

112.41

(7.52%)

October

113.06

(13.51%)

November

112.60

(10.00%)

December

112.62

(7.60%)

January 2021

113.33

(6.89%)

February

103.85

(14.80%)

March

103.80

(14.54%)

April

102.72

(24.04%)

May

106.29

+0.53%

June

110.16

+11.89%

July

114.89

+5.87%

August

119.05

+5.75%

September

119.76

+6.54%

October

121.78

+7.71%

 

The index increase was attributed to the rise in the mining and quarrying activity index by 9% by the end of October, as the Kingdom hiked oil production to 9.7 million barrels per day (bpd) during the month from 8.9 million bpd in October 2020.

 

The manufacturing industry index and electricity supply index appreciated by 4% and 5%, respectively, in October 2021.

 

IPI by Activity in October 2021

Main activities

October 2020

October 2021

Variation

Mining & quarrying

110.3

120.3

+9%

Manufacturing

119.9

124.7

+4%

Electricity supply

130.8

137.0

+5%

 
The GASTAT defines manufacturing industries as industries whose activity involves the conversion of raw materials into finished products or intermediate products. Electricity, gas and water supply industries are known for electricity and gas delivery, as well as water supply, sewage, waste management and treatment activities. Extractive industries are involved in the process of extracting raw materials from the ground, and these industries rely on natural materials that cannot be replenished or compensated, such as oil and minerals.

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