RIYADH: Saudi Arabia’s industrial production index rose to 115 in January, up 10.4 percent from a year earlier, driven by higher crude output and stronger mining activity, official data showed.
The latest report released by the General Authority for Statistics showed that the annual surge was primarily fueled by a 13.3 percent jump in the mining and quarrying sub-index, which includes oil production.
Saudi Arabia raised crude oil output to 10.1 million barrels per day in January from 8.9 million barrels per day a year earlier, supporting growth in the mining and quarrying sub-index and contributing to the broader expansion in industrial activity.
The latest IPI figures underscore continued momentum in the Kingdom’s industrial sector as Saudi Arabia pursues economic diversification under its Vision 2030 agenda.
The manufacturing sector, a key pillar of the Kingdom’s economic diversification efforts, also contributed positively to the annual growth. The manufacturing sub-index rose by 6.8 percent compared to January of the previous year.
