The Saudi industrial production index (IPI) has continued its upward growth since May 2021, after negative growth rates in 2019 and 2020 that were caused by the coronavirus pandemic.
The Saudi General Authority for Statistics (GASTAT) revealed that IPI increased 16.8 percent compared to August of 2021, as it continued to achieve positive growth trends due to high production in mining, quarrying, manufacturing, electricity, and gas supply.
The relative rates of the mining and quarrying, manufacturing, and electricity and gas supply sectors in the IPI are 74.5 percent, 22.6 percent, and 2.9 percent, respectively.
In August 2022, mining and quarrying increased by 15.5 percent compared to the same month in 2021.
Saudi Arabia increased its oil production to reach the highest level of more than 11 million barrels per day in 2022.
The manufacturing continued to rise as the activity performance increased 22 percent in August, compared to the same month last year, and electricity and gas supplies showed an increase of 11.3 percent.
The Authority said the impact of growth in the electricity and gas supplies index on the IPI was limited due to its small impact in the index.
It stated that the IPI continued to show favorable growth due to the high production. Looking at the long-term, the IPI growth became positive in May 2021 and continued its upward trend during the following months, accelerating at the end of the year.
Meanwhile, the Ministry of Industry and Mineral Resources announced the qualification of eight local companies to compete for an exploration license for gypsum ore in the al-Qasab mining site.
The site, with an area of 600,00 sqm, is located south of the Nabat Center in the al-Madinah region, according to the Ministry.
The Ministry revealed the qualified companies are Saudi National Gypsum, el-Khayyat Gypsum, the United Cement Industrial Co., Global Gypsum Co., United Mining Industries Co., Mada Gypsum Co., and ASK Gypsum Factory.
