Prime Highlights:
- Saudi Arabia’s industrial output jumped 10.4% year on year in November, marking the fastest annual growth in several months.
- Growth was driven by higher oil production and a surge in manufacturing, including a 14.5% rise in coke and refined petroleum output.
Key Facts:
- Mining and quarrying activity increased 12.6% year on year, supported by higher crude oil production.
- Water supply, sewerage, waste management, and remediation activities grew 10.2%, reflecting steady demand for essential services.
Background:
Saudi Arabia’s industrial sector grew strongly in November, marking its fastest yearly increase in months. Data from the General Authority for Statistics (GASTAT) showed that the Kingdom’s Industrial Production Index (IPI) rose by 10.4 percent compared to the same period last year, supported by improved manufacturing performance and increased oil production.
The IPI reached 114.4 points in November, compared to 103.6 in the same month last year. While the index recorded a modest month-on-month decline of 0.7 percent from October, the overall annual performance highlighted continued momentum in the industrial sector, which plays a central role in Saudi Arabia’s Vision 2030 economic diversification strategy.
GASTAT said the year-on-year rise was supported by growth across several key activities, including mining and quarrying, manufacturing, and water supply, sewerage, and waste management. Saudi Arabia raised oil output to 10.1 million barrels per day during the month, up from 8.9 million barrels per day a year earlier.
Manufacturing activity also showed solid performance, increasing by 8.1 percent year on year. The growth was mainly due to a 14.5 percent rise in coke and refined petroleum production. Chemical manufacturing also contributed, posting a 10.9 percent rise from a year earlier.
By contrast, electricity, gas, steam, and air conditioning supply fell by 4.3 percent compared to last year. Water supply, sewerage, waste management, and remediation activities grew by 10.2 percent, reflecting steady demand for essential services.
In November, mining rose 0.5 percent and manufacturing 0.3 percent month on month. However, electricity and gas supply recorded a sharp monthly decline, and water-related activities also saw a small drop.
Overall, oil-related activities increased by 12.9 percent year on year, while non-oil activities grew by 4.4 percent, underlining continued progress in broadening the Kingdom’s industrial base. GASTAT noted that the IPI tracks changes in industrial output across mining, manufacturing, utilities, and waste management sectors in line with international classification standards.
