GASTAT: Index of Industrial Production Increased during the Second Quarter of 2018

On its official website www.stats.gov.sa , GASTAT released the results of the industrial production survey for the second quarter of 2018. This survey measures the relative change or any developments in the quantities of commodities and material production. 

The survey results indicated an increase by 4.17% in the industrial production index during the second quarter of 2018, compared to the first quarter of the same year. The index registered 137.87 points during the second quarter, 2018. 
As for the industrial production index activities, the mining and quarrying indicator rose by 1.89%, whereas the manufacturing production increased by 5.07%. However, the production of the electricity and gas supply registered an increase with 83.46% when compared to the first quarter of 2018. 

The results also showed an increase by 5.84% in all industrial activities compared to the second quarter of 2017. The growth in mining and quarrying production reached 1.95%, while the manufacturing production growth registered 16.44%. However, the production of electricity and gas supply decreased by 0.30%. 

In this context, industrial production means transforming raw material (inputs) into consuming material in its final shape as (outputs) so that the producing establishment may gain a profit in return. On the other hand, the extractive industries mean raw material extracted from the ground. They depend on non-renewable natural resources such as oil and mining. However, manufacturing concerns all industries whose activity is all about transforming raw material into final products or intermediate products. 

It is worth mentioning that the idea of index means the measurement of any change in a given value during a specific period of time called the comparison period which compares the values during different periods of times. The Industrial Production Index is considered the fourth statistical product that GASTAT conducts as an index. It is conducted after Consumer Price Index, Wholesale Prices Index, and Real-estate Prices Index.