This was the second-highest growth rate during the last three years Saudi Arabia’s Industrial Production Index, also known as IPI, grew 11.2 percent in December compared to the same month of 2021, GASTAT showed. This was the second-highest growth rate during the last three years, GASTAT pointed out. The December growth is also the highest since June 2021 when the index grew 11.9 percent. The indicator posted growth for the eighth consecutive month, GASTAT said. Annual growth in the IPI turned positive in May 2021 with the upward trend having continued through December, GASTAT pointed out. The positive performance was mainly due to the mining and quarrying sector which grew 11.6 percent year-on-year on the back of the Kingdom’s increased oil production. In December, oil production reached a level of over 10 million barrels per day. Annual growth in manufacturing stood at 9.7 percent, while electricity and gas supplies grew 12 percent, according to GASTAT data.