Riyadh, General Authority for Statistics (GASTAT) issued today the results of the Industrial Production Index (IPI) for January 2023.
Industrial Production Index (IPI) increased by 6.8% in January 2023, compared to January 2022, according to the publication. This increase mainly originated from the increase in mining, quarrying, and manufacturing activity.
Mining and quarrying activity index increased by 3% in January 2023, compared to the same month in the previous year (January 2022). Manufacturing activity also increased by 19.2% in January 2023, compared to January 2022. Electricity and gas supply decreased by 3.4% compared to January 2022, according to the monthly publication.
It is noteworthy that GASTAT issues a number of Industry-related statistical products, including the industrial production index (IPI), which is an economic indicator that reflects relative changes and evolution in the volume of industrial production quantities based on the data of the industrial production survey. It is implemented monthly and targets industrial establishments operating in the targeted activities, which are mining and quarrying, manufacturing, and electricity and gas supply.
Source: Saudi Press Agency