S. Arabia’s IPI up by 1.6% in July 

Saudi Arabia’s Industrial Production Index (IPI) rose by 1.6 per cent year-on-year (YoY) in July 2024, driven by gains in manufacturing, electricity, gas, steam, and air conditioning supply, as well as water supply, sewerage, and waste management. The IPI also saw a 1.7 per cent monthly gain from June 2024.

The mining and quarrying sub-index decreased by 0.8 per cent from July 2023, due to Saudi Arabia’s oil production reaching 8.9 million barrels per day (bpd). However, it grew by 1.3 per cent compared to June 2024.

The manufacturing sub-index rose by 4.6 per cent YoY, with significant increases in chemical and food product manufacturing by 5.7 per cent and 10.1 per cent, respectively. Despite a 2.2 per cent drop in coke and refined petroleum products, the monthly manufacturing sub-index grew by 1.7 per cent, supported by a 3.3 per cent rise in coke and petroleum products and a 0.4 per cent increase in chemicals.

The sub-index for electricity, gas, steam, and air conditioning supply increased by 8.2 per cent annually, and water supply, sewerage, and waste management rose by 1.1 per cent. Monthly, these sub-indices grew by 8.3 per cent and 0.8 per cent, respectively.

In July 2024, the oil activities index fell by 1.1 per cent YoY due to reduced oil production, while non-oil activities surged by 8.2 per cent. Month-on-month (MoM), the oil and non-oil indices increased by 1.6 per cent and 1.8 per cent, respectively.

Attribution: General Authority for Statistics (GASTAT)

Subediting: M. S. Salama