Riyadh January 9 2025: Saudi Arabia Industrial Production increase by 3.4% increase in November 2024 compared to the same month of the previous year (November 2023), supported by the rise in manufacturing activity, mining and quarrying activity and water supply, sewerage and waste management and remediation activities.
However, IPI decreased by 2.3% compared to October 2024.
In November 2024, the sub-index of mining and quarrying activity increased by 1.2% compared to the same month of the previous year. Saudi Arabia increased its oil production to 8.93 million barrels per day in November 2024 compared to 8.82 million barrels per day in November 2023.
On a monthly basis, the sub-index of mining and quarrying activity decreased by 0.5%.
Compared to November of the previous year, the sub-index of manufacturing activity increased by 7.2%, supported by an increase in the manufacture of coke and refined petroleum products which increased by 17.6%, and the manufacture of chemicals and chemical products, and the manufacture of food products, which increased by 1.6% and 1.5% respectively. On a monthly basis, the sub-index of manufacturing activity showed a decrease of 3.1%, affected by the decline in the activity of the manufacture of coke and refined petroleum products, which decreased by 8.8%, and the manufacture of food products which decreased by 0.2%.
The sub-index of electricity, gas, steam, and air conditioning supply activity recorded an annual decrease of 2.1%, and the sub-index of water supply, sewerage and waste management and remediation activities increased by 10.5%.
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 21.5% and 4.7%, respectively.
The index of oil activities in November 2024 increased by 3.8% compared to the same month of the previous year. The index of non-oil activities increased by 2.4%, 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 for oil activities decreased by 2.1%, and the index of non-oil activities decreased by 2.7%.
