The General Authority for Statistics (GASTAT) released today the results of the Industrial Production Index (IPI) for July 2024. According to the report, the index increased by 1.6% in July 2024 compared to the same month in the previous year, July 2023. This growth was driven by the rise in manufacturing activity, electricity, gas, steam, and air conditioning supplies, as well as water supply, sewage, waste management, and treatment activities.

The report revealed a 4.6% increase in the sub-index for manufacturing activity compared to July of the previous year, while the sub-index for mining and quarrying activity showed a decline of 0.8% in July 2024. The sub-index for electricity, gas, steam, and air conditioning supplies recorded an 8.2% increase, and the sub-index for water supply, sewage, waste management, and treatment activities rose by 1.1%, compared to July of the previous year.

The report indicated that the oil activities index decreased by 1.1% in July 2024, while the non-oil activities index increased by 8.2% compared to the same month of the previous year.
It is worth mentioning that the General Authority for Statistics issues several statistical products related to the industry, including the Industrial Production Index (IPI), which is an economic indicator that reflects the relative changes and developments in the volume of industrial production. This index is based on data from the Industrial Production Survey, which is conducted monthly and targets industrial establishments operating in key activities such as mining and quarrying, manufacturing, and electricity and gas supply.