Saudi Arabia saw industrial growth with a notable increase of 2.1 percent compared to December of the previous year, according to the latest government figures. The General Authority for Statistics (GASTAT) has released these figures regarding the Industrial Production Index (IPI) for December 2024, highlighting that this growth is primarily driven by advancements in manufacturing, water supply, sewerage, and waste management and remediation activities.
Subindex performance in mining and quarrying
Additionally, the subindex for mining and quarrying activities experienced a decline of 0.4 percent. In contrast, the subindex for manufacturing activities saw a significant rise of 6.3 percent, underscoring a robust performance in this sector.
Read more: Saudi Industrial Production Index rises 1.6 percent in July 2024
Changes in electricity, gas, steam, and air conditioning supply
The subindex pertaining to electricity, gas, steam, and air conditioning supply recorded a decrease of 1.9 percent. However, the subindex for water supply, sewerage, and waste management and remediation activities noted a modest increase of 0.8 percent.
When examining the IPI across major economic activities, there was a 1.3 percent increase in oil activities and a 4.0 percent rise in non-oil activities compared to December of the previous year.
GASTAT continues to publish the Industrial Production Index (IPI) monthly as a key economic indicator, reflecting alterations in the volume of industrial output, which is calculated through the industrial production survey.
