Saudi Industrial Production Index rises 6.5% in July

Saudi Arabia’s Industrial Production Index (IPI) rose 6.5% YoY in July to 111.47 points, from 104.66 points a year earlier

Saudi Arabia’s Industrial Production Index (IPI) rose 6.5% year-on-year (YoY) in July to 111.47 points, from 104.66 points a year earlier, the General Authority for Statistics (GASTAT) said.

GASTAT attributed the increase to higher activity in mining and quarrying, manufacturing, electricity, gas, steam, and air conditioning supply, as well as water supply, sewerage, and waste management activities.

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:

The mining and quarrying sub-index rose 6.5% YoY, supported by Saudi Arabia’s oil output increasing to 9.53 million barrels per day (bpd) in July from 8.94 million bpd in April 2024.

The sub-index for manufacturing activity increased by 7% YoY, while the sub-index for electricity, gas, steam, and air conditioning supply rose by 0.9% YoY. Meanwhile, the sub-index for water supply, sewerage, and waste management activities recorded an increase of 8.5% YoY.