Saudi Industrial Production Index up 2.1% in December

GASTAT attributed the growth to higher activity in manufacturing, water supply, sanitation, 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 declined 0.4% YoY in December amid lower oil production in the Kingdom. Oil output reached 8.91 million barrels per day (bpd) in December, down from 8.94 million bpd in the year-earlier period.

The manufacturing sub-index rose 6.3% year-on-year, supported by a 9.3% rise in coke and refined petroleum products manufacturing, and a 4.8% rise in chemicals and chemical products manufacturing.

On the other hand, manufacturing activities grew 6.3% YoY, driven by a 9.3% jump in the production of coke and refined petroleum products, alongside a 4.8% YoY rise in chemicals and chemical products.