Riyadh – Mubasher: The Industrial Production Index (IPI) of Saudi Arabia jumped by 15.7% year-on-year (YoY) in September 2022, according to the General Authority for Statistics’ (GaStat) latest data.

The increase was mainly due to a 14.2% YoY hike in mining and quarrying, as the Kingdom expanded its oil production to more than 11 million barrels per day (bpd) during September 2022.

The annual leap in September IPI was also driven by a 22% YoY growth in manufacturing activity during the month, in addition to a 5.5% YoY rise in electricity and gas supplies.

On a monthly basis, the overall IPI inched down by 0.4% last September when compared to a 16.8% surge in August 2022.

The mining and quarrying declined by 0.1% month-on-month (MoM) in September 2022. Meanwhile, the manufacturing sector retreated by 1% MoM, whereas electricity and gas supplies decreased by 3%.