Riyadh November 12 2024: Saudi Arabia Industrial Production Index (IPI) decreased by 0.3% in September 2024 compared to the same month in the previous year (September 2023), affected by the decline in the manufacturing activity, and electricity, gas, steam, and air conditioning supply activities.
On a monthly basis, IPI decreased by 1.2% compared to the previous month.
In September 2024, the sub-index of mining and quarrying activity stabilized at the same level of the previous year. Oil production level in Saudi Arabia reached 8.97 million barrels per day in September 2024, which is the same level recorded in the previous year. On a monthly basis, the sub-index of mining and quarrying activity decreased by 0.2%
Compared to September of the previous year, the sub-index of manufacturing activity decreased by 0.5%, affected by a decrease in the manufacture of coke and refined petroleum products which decreased by 12.3%.
Meanwhile, the manufacture of chemicals and chemical products, and the manufacture of food products increased by 2.0% and 12.3%, respectively. On a monthly basis, the sub-index of manufacturing activity showed a decrease of 2.6%, affected by the decline in the activity of manufacture of coke and refined petroleum products which decreased by 7.6%, and manufacture of chemicals and chemical products which decreased by 0.1%.
The sub-index of electricity, gas, steam, and air conditioning supply activity recorded an annual decrease of 4.9%. and the sub-index of water supply, sewerage and waste management and remediation activities increased by 2.5%.
Based on the month-on-month trend, the sub-index of electricity, gas, steam, and air conditioning supply activity, and the sub-index of water supply, sewerage and waste management and remediation activities decreased by 1.7% and 4.1%, respectively.
The index of oil activities in September 2024 decreased by 2.5% compared to the same month of the previous year. While the index of nonoil activities increased by 5.0%, supported by an increase in all non-oil economic activities except for electricity, gas, steam, and air conditioning supply activity. Based on the month-on-month trend, the index of oil activities decreased by 1.6%, and the index of non-oil activities decreased by 0.3%.
