S. Arabia’s IPI rises in Dec ’24

Saudi Arabia’s Industrial Production Index (IPI) rose by 2.1 per cent in December 2024 compared to the same month in 2023, driven by growth in manufacturing, water supply, sewerage, and waste management activities. On a monthly basis, the IPI increased by 1.3 per cent from November 2024.

The manufacturing sector saw a 6.3 per cent annual increase, supported by a 9.3 per cent rise in coke and refined petroleum production and a 4.8 per cent gain in chemicals output.

On a monthly basis, manufacturing activity grew by 5.1 per cent. In contrast, mining and quarrying activity declined by 0.4 per cent annually and 0.2 per cent from the previous month, as Saudi Arabia reduced its oil production to 8.91 million barrels per day in December 2024 from 8.94 million barrels per day a year earlier.

Non-oil activities grew by 4.0 per cent annually but declined 0.5 per cent from November. Meanwhile, electricity, gas, steam, and air conditioning supply fell by 1.9 per cent year-on-year and 15.6 per cent monthly.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama