RIYADH — The General Authority for Statistics (GASTAT) has announced, in a report, that the Industrial Production Index (IPI) has increased in May 2022 by 24% compared to May 2021.

The IPI continued to show positive growth rates due to the high production in the three sub-sectors mining and quarrying, manufacturing, and electricity and gas supplies.

According to GASTAT's report, the mining and quarrying grew by 23.3% in May 2022 compared to May 2021. The manufacturing activity also increased by 28.8% compared to the same month of the previous year, the electricity and gas supplies increased by 3%.

Compared to April 2022, the overall IPI increased by 1.2%. Mining and quarrying showed a month-on-month growth rate of 0.9%. The manufacturing sector increased by 0.2%, electricity and gas supplies increased by 24.9%.

The impact of growth in the electricity and gas supplies index on the IPI was limited due to its small weight in the index, says the report. — SPA