RIYADH: Saudi Arabia’s industrial production rose 8.9 percent in February from a year earlier, driven by stronger mining and manufacturing activity, while output remained broadly stable month on month, official data showed.
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.
The mining and quarrying sub-index registered a 13 percent 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 3.6 percent, supported by an increase in the manufacture of coke and refined petroleum products, which increased by 5.2 percent, and manufacture of chemicals and chemical products, which increased by 4.5 percent.”
The report also indicated that Saudi Arabia increased its oil production to 10.1 million barrels per day in February, up from 8.9 million barrels per day in the same month last year.
On a month-on-month basis, the manufacturing sub-index decreased by 0.2 percent, reflecting a drop in coke production and refined petroleum products, which declined by 0.8 percent, along with a 1.4 percent decrease in the activity of chemicals and chemical products. The sub-index of mining and quarrying activity increased by 0.1 percent.
Other manufacturing activities also showed mixed performance. The manufacture of non-metallic mineral products increased by 2.2 percent annually, while basic metals manufacturing surged by 6.2 percent year on year but dropped by 2 percent on a monthly basis.
The manufacture of paper and paper products recorded an annual increase of 1.9 percent and a monthly uptick of 2 percent, while electrical devices manufacturing dropped by 3.2 percent year on year and increased by 0.3 percent month on month.
The sub-index for electricity, gas, steam, and air conditioning supply dipped by 3.7 percent year on year, while the sub-index for water supply, sewerage, and waste management activities saw an 8.1 percent annual increase.
In February, oil-related activities grew by 11.5 percent year on year and dropped 0.1 percent month on month.
Non-oil activities also recorded growth, increasing by 2.4 percent annually and dropping 0.4 percent 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.
