Saudi Industrial Output Surges 6.5% in July Due to Mining and Manufacturing Growth
Rising industrial production underscores Saudi Arabia's progress under Vision 2030.
Saudi Arabia's industrial output rose by 6.5 percent in July compared to the same month last year, driven primarily by growth in the mining and manufacturing sectors, according to preliminary data from the General Authority for Statistics (GASTAT).
The Industrial Production Index increased to 111.5 in July, up from 110 in June, highlighting ongoing momentum in sectors crucial to the Kingdom's economic diversification efforts under Vision 2030.
The latest figures indicate a steady advancement in industries that are central to reducing Saudi Arabia's dependence on hydrocarbon revenues.
The growth was supported by increases across several sub-sectors including mining and quarrying, manufacturing, electricity and gas supply, as well as water supply, sewerage, waste management, and remediation activities.
Within the manufacturing sector, a 7 percent year-on-year increase was recorded in July, with significant contributions from the chemicals segment, which saw an 8.9 percent rise, and refined petroleum products, which increased by 13.8 percent.
On a monthly basis, manufacturing edged up 0.4 percent, benefiting particularly from a 1 percent increase in refined petroleum production.
Mining and quarrying activities grew by 6 percent annually, bolstered by Saudi Arabia's decision to raise oil production to 9.53 million barrels per day in July, compared to 8.94 million bpd the previous year.
On a monthly basis, this sub-index increased by 1.8 percent.
Electricity, gas, steam, and air conditioning supply expanded by 0.9 percent year-on-year, while water supply, sewerage, waste management, and remediation activities saw an 8.5 percent increase.
Overall, the oil activities index advanced by 7.8 percent in July from a year earlier, with non-oil activities rising by 3.5 percent.
Compared to June, oil activities were up 1.6 percent and non-oil operations gained 0.6 percent.
Earlier this month, GASTAT reported that Saudi Arabia's real gross domestic product grew 3.9 percent in the second quarter, driven by robust non-oil activity that extended its growth streak to 18 consecutive quarters.
Non-oil activities in the Kingdom expanded by 4.6 percent year-on-year in the second quarter, underscoring progress in the economic diversification drive initiated under Vision 2030.
The Industrial Production Index increased to 111.5 in July, up from 110 in June, highlighting ongoing momentum in sectors crucial to the Kingdom's economic diversification efforts under Vision 2030.
The latest figures indicate a steady advancement in industries that are central to reducing Saudi Arabia's dependence on hydrocarbon revenues.
The growth was supported by increases across several sub-sectors including mining and quarrying, manufacturing, electricity and gas supply, as well as water supply, sewerage, waste management, and remediation activities.
Within the manufacturing sector, a 7 percent year-on-year increase was recorded in July, with significant contributions from the chemicals segment, which saw an 8.9 percent rise, and refined petroleum products, which increased by 13.8 percent.
On a monthly basis, manufacturing edged up 0.4 percent, benefiting particularly from a 1 percent increase in refined petroleum production.
Mining and quarrying activities grew by 6 percent annually, bolstered by Saudi Arabia's decision to raise oil production to 9.53 million barrels per day in July, compared to 8.94 million bpd the previous year.
On a monthly basis, this sub-index increased by 1.8 percent.
Electricity, gas, steam, and air conditioning supply expanded by 0.9 percent year-on-year, while water supply, sewerage, waste management, and remediation activities saw an 8.5 percent increase.
Overall, the oil activities index advanced by 7.8 percent in July from a year earlier, with non-oil activities rising by 3.5 percent.
Compared to June, oil activities were up 1.6 percent and non-oil operations gained 0.6 percent.
Earlier this month, GASTAT reported that Saudi Arabia's real gross domestic product grew 3.9 percent in the second quarter, driven by robust non-oil activity that extended its growth streak to 18 consecutive quarters.
Non-oil activities in the Kingdom expanded by 4.6 percent year-on-year in the second quarter, underscoring progress in the economic diversification drive initiated under Vision 2030.
