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GASTAT: Industrial Production Index in Saudi Arabia Increased by 7.3% in December

GASTAT issues a number of Industry-related statistical products, including the industrial production index (IPI). Asharq Al-Awsat
GASTAT issues a number of Industry-related statistical products, including the industrial production index (IPI). Asharq Al-Awsat
    Asharq A-Awsat
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GASTAT: Industrial Production Index in Saudi Arabia Increased by 7.3% in December

GASTAT issues a number of Industry-related statistical products, including the industrial production index (IPI). Asharq Al-Awsat
GASTAT issues a number of Industry-related statistical products, including the industrial production index (IPI). Asharq Al-Awsat

The General Authority for Statistics (GASTAT) has issued the results of the industrial production index for December 2022, showing that IPI increased by 7.3% compared to the same month in the previous year, as a result of the increase in mining, quarrying, and manufacturing activity.

The results of the index's monthly publication revealed that the mining and quarrying activity index for December 2022 increased by 4.1% compared to the same month in the previous year.

Manufacturing activity also increased by 18.5% in December 2022, while electricity and gas supply activity decreased by 6.5%, compared to the same month in 2021.

According to the report's results, the industrial production index recorded positive growth rates during 2022 due to the increase in mining and quarrying activity as well as manufacturing activity.

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Egypt Completes Trial Run of New Suez Canal Channel Extension

An Egyptian navy vessel see in the Suez Canal, March 30, 2021. (AFP/Getty Images)
An Egyptian navy vessel see in the Suez Canal, March 30, 2021. (AFP/Getty Images)
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Egypt Completes Trial Run of New Suez Canal Channel Extension

An Egyptian navy vessel see in the Suez Canal, March 30, 2021. (AFP/Getty Images)
An Egyptian navy vessel see in the Suez Canal, March 30, 2021. (AFP/Getty Images)

Egypt said on Saturday it had successfully tested a new 10 km channel near the southern end of the Suez Canal.

The Suez Canal Authority said in a statement that during a trial run two ships passed through a new stretch of the canal's two-way section without incident.

Following the 2021 grounding of the container ship Ever Given that blocked the vital waterway for six days, Egypt accelerated plans to extend the second channel in the southern reaches of the canal and widen the existing channel.

Its revenue from the waterway, the gateway to the shortest route between Europe and Asia, has nevertheless tumbled since Yemen's Houthi militias began attacking ships in the Red Sea in November 2023 in what they say is solidarity with Palestinians in Gaza.

Egyptian President Abdel Fattah al-Sisi said on Thursday that due to "regional challenges", the country had lost approximately $7 billion in Suez Canal revenue in 2024, marking more than a 60% drop from 2023.

According to the Suez Canal Authority, the latest expansion extends the total length of the canal's two-way section to 82 km from a previous 72 km. The canal is 193 km long in total.

"This expansion will boost the canal's capacity by an additional 6 to 8 ships daily and enhance its ability to handle potential emergencies," the Suez Canal Authority said in its statement.

Earlier this year, Egypt said that it was considering an additional expansion project separate to the 10 km channel extension.