A production line
Saudi Arabia’s Industrial Production Index (IPI) added 1 % year-on-year (YoY) in August 2024, data issued by the General Authority for Statistics (GASTAT) showed.
The IPI rose to 105.01 points in August, according to the base year 2021, compared to 103.93 points in August 2023.
This increase was driven by a rise in mining, quarrying and manufacturing activities, as well as growth in the electricity, gas, steam, and air conditioning supply.
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:
|
Industrial Production Index (IPI)* |
||
|
Period |
IPI (Points) |
Change (YoY) |
|
January 2024 |
102.58 |
(9.4%) |
|
February |
105.06 |
(6.3%) |
|
March |
104.45 |
(8.8%) |
|
April |
105.37 |
(6.3%) |
|
May |
107.48 |
(1.7%) |
|
June |
104.26 |
(5.1%) |
|
July |
105.31 |
+0.8% |
|
August |
105.01 |
+1.0% |
Mining and quarrying activity rose 0.8% YoY in August, backed by the increase in oil production levels in the Kingdom. Oil output reached 8.99 million barrels per day in August, up from 8.92 million barrels in the year-earlier period.
Moreover, the manufacturing activities rose 1.1% YoY as production of chemicals and chemical products rose along with food production by 2.9% and 12.9%, respectively, in August.
|
IPI by Activity |
|||
|
Main Sectors |
August 2023 |
August 2024 |
Change |
|
Mining & Quarrying |
97.82 |
98.63 |
+0.8% |
|
Manufacturing |
111.34 |
112.54 |
+1.1% |
|
Electricity, Gas, Steam & Air-Conditioning Supply |
140.02 |
145.82 |
+4.1% |
|
Water Supply, sanitation, Waste Management & Treatment |
125.34 |
124.16 |
(0.9%) |
|
IPI |
103.93 |
105.01 |
+1.0% |
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