Saudi Industrial Production Index up 3.4% as output expands: GASTAT

RIYADH: Saudi Arabia’s Industrial Production Index climbed 3.4 percent year on year in November to reach 103.8, driven by an uptick in mining and quarrying activities, official data showed. 

According to data from the General Authority for Statistics, the mining and quarrying sub-index recorded a 1.2 percent annual rise, underpinned by a modest increase in the Kingdom’s oil output, which grew to 8.93 million barrels per day in November from 8.82 million bpd in the same month of the previous year

Manufacturing activities also showed robust growth, expanding 7.2 percent year on year, driven largely by a 17.6 percent surge in the manufacture of coke and refined petroleum products. Additionally, the production of chemicals and chemical products rose 1.6 percent, while food manufacturing increased by 1.5 percent during the same period. 

This comes as Saudi Arabia emphasizes industrial production under Vision 2030, aiming to diversify its economy and reduce oil dependence by fostering growth in mining, manufacturing, and other non-oil sectors.