S. Arabia’s IPI rises in August 

Saudi Arabia’s Industrial Production Index (IPI) increased by 1.0 per cent in August 2024 compared to the same month last year, driven by growth in mining and quarrying, manufacturing, and electricity, gas, steam, and air conditioning supply activities. However, the IPI saw a 0.3 per cent decline from July 2024.

The mining and quarrying sector grew by 0.8 per cent year on year (YoY), supported by higher oil production at 8.99 million barrels per day (bpd). Manufacturing activity rose by 1.1 per cent, with notable gains in chemical products (2.9 per cent) and food manufacturing (12.9 per cent), despite a drop of 11.3 per cent in coke and refined petroleum manufacturing.

Electricity and air conditioning supply surged by 4.1 per cent, while water supply and waste management fell by 0.9 per cent. Oil-related activities dropped by 1.4 per cent, but non-oil sectors grew by a strong 7.0 per cent, reflecting widespread expansion in non-oil industries.

Attribution: General Authority for Statistics (GASTAT) – IPI AUG

Subediting: M. S. Salama