S. Arabia’s IPI experiences 6.1% decrease in April

Saudi Arabia’s Industrial Production Index (IPI) saw a 6.1 per cent decrease in April compared to the same period of last year, as per General Authority for Statistics (GASTAT) data released on Monday.

According to the report, this drop was primarily driven by a decline in mining and quarrying operations, which accounted for a substantial 61.4 per cent of the index. Consequently, the performance of the mining and quarrying sector heavily influenced the overall trend of the IPI.

Following behind were manufacturing activities, constituting 35 per cent of the index, and electricity, gas, steam, and air conditioning supply activities, accounting for 2.8 per cent.

Moreover, water supply, sewerage, waste management, and remediation activities contributed a mere 0.69 per cent.

Notably, despite the decline in April, the IPI saw a slight uptick of 1.1 per cent compared to March.