Riyadh: The Saudi Industrial Production Index (IPI) recorded 103.3 points in January 2024, compared to 103 points in December 2023, marking a monthly growth of 0.3%, according to data from the General Authority for Statistics (GASTAT).

The sub-index for mining and quarrying activity, which accounts for 61.4% of the index weight, grew by 0.1% to reach 98.2 points in January 2024, up from 98 points in December.

The sub-index for manufacturing activity, which accounts for 35% of the index weight, grew by 1.1% to reach 113.8 points in January 2024, up from 112.6 points in December 2023.

The sub-index for water supply, sewerage, waste management and remediation activities, which accounts for 0.7% of the index weight, grew by 1% to reach 113.2 points, up from 112.1 points in December 2023.

The sub-index for electricity, gas, steam and air conditioning supply activity recorded 80.2 points, which accounts for 2.8% of the index weight.

The IPI serves as an economic indicator, reflecting the relative changes in the volume of industrial production. This data is derived from the industrial production survey, which is conducted among a sample of industrial establishments operating in specific sectors.

The index data is classified according to the International Standard Industrial Classification of All Economic Activities (ISIC4) and is published on a monthly basis.