Saudi Industrial Production Index up 3.4% in November

A production line

Saudi Arabia’s Industrial Production Index (IPI) added 3.4% year-on-year (YoY) in November 2024, data issued by the General Authority for Statistics (GASTAT) showed.

The IPI rose to 103.78 points in November, according to the base year 2021, compared to 100.37 points in November 2023.

GASTAT attributed the growth to higher activity in mining and quarrying, manufacturing, water supply, sanitation, as well as waste management and treatment sectors.

The IPI measures the relative change in production quantities of materials and goods, tracking their transformation from raw materials to final consumable products for economic returns.

The following table shows the development of the index:

Mining and quarrying activity rose 1.2% YoY in November, backed by the increase in oil production levels in the Kingdom. Oil output reached 8.93 million barrels per day in November, up from 8.82 million barrels in the year-earlier period.

Meanwhile, manufacturing activities grew 7.2% YoY, driven by a 17.6% jump in the production of coke and refined petroleum products, alongside gains in chemicals, chemical products, and food production.