Industrial production in Saudi Arabia jumped 24.8% in March, recording the highest growth in the last 3 years

Data from the Saudi General Authority for Statistics showed, today, Tuesday, that the index of the quantities of industrial production increased by 24.8% in March 2022, compared to the same month of 2021, continuing to record positive growth trends due to the increase in production. in the three sub-activities, namely extraction and extraction, production, supply of electricity and gas.

The authority stated in a statement that the industrial production index annual growth rate of 24.8% in March 2022 is the highest annual growth rate in the past three years.

He added that looking into the longer term, it can be seen that the growth of the industrial production index turned positive in May 2021 and the upward trend continued in the following months after a series of months that saw negative growth rates in 2019. and 2020 partially affected by the effects of the global epidemic.

The relative importance of mining and mining, manufacturing and the supply of electricity and gas is respectively 74.5%, 22.6% and 2.9% and therefore the trend of the industrial production index in the activity mining and quarrying dominates the general trend of the production index industry.

In March 2022, production in mining and quarrying increased by 26.6% compared to the same month in the previous year (March 2021), as Saudi Arabia increased its oil production to reach the highest level of over 10 million barrels a day in March Manufacturing activity appeared in recovery from the effects of the Corona pandemic that the world has witnessed in the last period and has been affected by the resumption of international trade, and the increase in national exports, in how much the manufacturing activity increased by 22% compared to the same month of the previous year.

The supply of electricity and gas also recorded an increase of 1.4%, compared to February 2022. The general index of industrial production increased by 2%, affected by the increase in mining and quarrying , appeared in growth of 0.7%, and the activity of the manufacturing industry, which also appeared in growth of 6%.

The supply of electricity and gas, on the other hand, decreased by 1.3%, but due to the low weight of tale activity in the index did not have a significant impact on the industrial production index.

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