Saudi Arabia’s industrial production rose 8.9 per cent in February from a year earlier, driven by stronger mining and manufacturing activity, while output remained broadly stable month on month, official data showed, reports the Arab News.
The Industrial Production Index stood at 114.6 in February, remaining largely unchanged from January and up from 105.3 a year earlier, according to data from the General Authority for Statistics (GASTAT).
The mining and quarrying sub-index registered a 13pc annual increase.
The performance reflects continued momentum in the kingdom’s industrial sector, supported by higher oil output and ongoing expansion in non-oil activities under Vision 2030, even as global economic and geopolitical uncertainties persist.
In its latest report, GASTAT stated: “Compared to February of the previous year, the sub-index of manufacturing activity increased by 3.6pc, supported by an increase in the manufacture of coke and refined petroleum products, which increased by 5.2pc, and manufacture of chemicals and chemical products, which increased by 4.5pc.”
The report also indicated that Saudi Arabia increased its oil production to 10.1 million barrels per day in February, up from 8.9m barrels per day in the same month last year.
On a month-on-month basis, the manufacturing sub-index decreased by 0.2pc, reflecting a drop in coke production and refined petroleum products, which declined by 0.8pc, along with a 1.4pc decrease in the activity of chemicals and chemical products. The sub-index of mining and quarrying activity increased by 0.1pc.
Other manufacturing activities also showed mixed performance. The manufacture of non-metallic mineral products increased by 2.2pc annually, while basic metals manufacturing surged by 6.2pc year on year but dropped by 2pc on a monthly basis.
The manufacture of paper and paper products recorded an annual increase of 1.9pc and a monthly uptick of 2pc, while electrical devices manufacturing dropped by 3.2pc year on year and increased by 0.3pc month on month.
The sub-index for electricity, gas, steam, and air conditioning supply dipped by 3.7pc year on year, while the sub-index for water supply, sewerage, and waste management activities saw an 8.1pc annual increase.
In February, oil-related activities grew by 11.5pc year on year and dropped 0.1pc month on month.
Non-oil activities also recorded growth, increasing by 2.4pc annually and dropping 0.4pc on a monthly basis.
The Industrial Production Index measures changes in industrial output based on the International Standard Industrial Classification framework, covering mining, manufacturing, utilities, and waste management sectors.
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