The General Authority for Statistics (GASTAT) released today the results of the Industrial Production Index (IPI) for August 2024. IPI increased by 1.0% during August 2024 compared to the same month in the previous year (August 2023), supported by the rise in mining and quarrying activity, manufacturing activity, and electricity, gas, steam, and air conditioning supply activities. 

The publication indicated that the index for mining and quarrying activity in August 2024 rose by 0.8% compared to the same month of the previous year (August 2023). Additionally, the index for manufacturing activity in August 2024 increased by 1.1% compared to August 2023. The sub-index for the supply of electricity, gas, steam, and air conditioning recorded a rise of 4.1%, while the sub-index for water supply, sewerage and waste management and remediation activities decreased of 0.9% compared to August of the previous year.

On another note, the index for oil-related activities recorded a decline of 1.4% in August 2024, while the index for non-oil activities achieved an increase of 7.0% compared to August 2023.

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 survey targets industrial establishments engaged in the specified activities, namely mining and quarrying , manufacturing, electricity, gas, steam, and air conditioning supply, as well as water supply, sewage, and waste management activities.