Saudi Industrial Production Index up 5% in October

A production line

Saudi Arabia’s Industrial Production Index (IPI) added 5 % year-on-year (YoY) in October 2024, data issued by the General Authority for Statistics (GASTAT) showed.

The IPI rose to 106.87 points in October, according to the base year 2021, compared to 101.78 points in October 2023.

GASTAT said that the IPI rise was bolstered by the increase in all economic activities.

The IPI measures the relative change and reflects the production quantities of materials and goods, which have been converted from raw materials to consumables in their final form as goods for the purpose of achieving a return.

The following table shows the development of the index:

Mining and quarrying activity rose 0.4% YoY in October, backed by the increase in oil production levels in the Kingdom. Oil output reached 8.97 million barrels per day in October, up from 8.94 million barrels in the year-earlier period.

Moreover, the manufacturing activities rose 12.4% YoY as manufacture of coke and refined petroleum products rose 32.6%, backed by the manufacture of chemicals and chemical products as well as the food products.