Riyadh – Mubasher: Saudi Arabia's industrial production index (IPI) fell by 15.5% on an annual basis during May 2020, mainly driven by a drop in the mining and quarrying activity by 11.98%.
Saudi oil production decreased to 8.5 million barrels per day (b/d) last May, compared with 9.6 million b/d in the corresponding month in 2019, according to the monthly report of the General Authority for Statistics (GaStat).
Moreover, the manufacturing activity plunged by 25.9% as factories limited production operations due to the COVID-19 pandemic.
On a monthly basis, the Saudi IPI retreated by 21.8%, largely due to a 29.2% decline in the mining and quarrying activity as oil production slid to 8.5 million b/d in May from 12 million b/d in April.
Meanwhile, non-oil manufacturing activity grew by 7.1%. Additionally, all industries recorded higher produced volumes in May when compared to April, with the paper production activity heading the risers with 17%, followed by the production of furniture and rubber and plastics with 15.7% and 15%, respectively.
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