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Riyadh – The Saudi industrial production index (IPI) fell by 6.68% year-on-year (YoY) in January.
The drop in industrial production was mainly ascribed to a 4.74% YoY decrease in the heavyweight mining and quarrying activity during January, according to a report released by the General Authority for Statistics on Tuesday.
In addition, the lower-weight manufacturing index dived by 12.78%, while the electivity and gas supply activity rose by 18.82%.
Month-on-month, the kingdom’s IPI declined by 0.13%, compared to December 2019, despite a 1.7% increase in the mining and quarrying activity.
Source: Mubasher
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