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This picture shows a view of a refinery at the Jubail Industrial City, about 95 kilometres north of Dammam in Saudi Arabia's eastern province overlooking the Gulf. (Photo by GIUSEPPE CACACE / AFP)
By TRENDS Desk
March 10, 2022 10:39 pm
  • This positive performance was mainly due to a 11.4 percent rise in mining and quarrying sector, which includes oil production as well
  • The Kingdom pumped at a level of over 10 million barrels per day in January

Driven by high oil output, Saudi Arabia’s Industrial Production Index shot up 11.1 percent in January, official data indicated.

The index, also known as IPI, saw the third-highest rise in the last three years, the Saudi general authority for statistics said on Thursday.

This positive performance was mainly due to a 11.4 percent rise in mining and quarrying sector, which includes oil production as well.

The Kingdom pumped at a level of over 10 million barrels per day in January.

The IPI in January recorded its 9th monthly increase in a row, the data from GaStat showed.

The industrial output in Saudi Arabia had seen negative growth rates in 2019 and again in 2020 partly due to the impact of the pandemic. Annual growth in manufacturing stood at 9.7 percent.

Electricity and gas supplies grew 15.7 percent, the highest rate of growth seen since January 2021.

 

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