The Saudi General Authority for Statistics has announced a 3.2% increase in the industrial production index for the month of April 2023, compared to the same month of the previous year.
The authority explained that this growth was a result of increased production in the mining and quarrying sector, as well as in the manufacturing and electricity and gas supply sectors.
The Industrial Production Index report, published on the authority’s website, also indicated a 0.2% rise in the sub-index for mining and quarrying activity in April of the current year, compared to the same month of the previous year.
Furthermore, the sub-index for manufacturing activity showed a significant increase of 10.5% compared to the same month of the previous year. The sub-index for electricity and gas supply activity witnessed a remarkable growth of 25.5% compared to April 2022.
It is worth noting that Saudi Arabia’s Gross Domestic Product (GDP) grew by 3.8% in the first quarter of this year on an annual basis, driven by the growth of non-oil activities, according to the General Authority for Statistics.
Non-oil economic activities grew by 5.4% annually and 1% quarterly, while government activities recorded a growth rate of 4.9% annually and 1.1% quarterly.