Saudi Arabia’s industrial production index rose by around 1.5% year-on-year in May. On a monthly basis, the index grew by 2.5%.
According to data from the General Authority for Statistics, this increase was driven by a 2.1% year-on-year growth in mining and quarrying activities. This coincided with an average oil production increase to 9.18 million barrels per day in May, up from 8.99 million barrels per day during the same period last year.
The manufacturing index rose by 0.9% year-on-year, supported by a 14% rise in chemical production and a 3.2% increase in food product manufacturing. On a monthly basis, the index went up by 2.3%.
Source: (CNBC Arabia Website, Edited)
