Prime Highlights:
- Saudi Arabia’s industrial activity grew 9% in October, driven by mining, manufacturing, and utilities.
- The growth reflects progress under Vision 2030, aimed at boosting industries beyond oil.
Key Facts:
- The Industrial Production Indexrose 3% from September, showing steady monthly growth.
- The World Bankexpects 3.8% growth in 2025, while the IMF forecasts 4% growth for 2025–2026.
Background:
Saudi Arabia’s industrial activity rose 8.9% in October, led by mining, manufacturing, and utilities.
The Industrial Production Index grew 0.3% from September. Officials noted that stronger performance in electricity, gas, steam and air-conditioning supply, as well as water and waste management activities, contributed to the positive trend.
Mining and quarrying, the country’s largest industrial component, posted an 11.5% annual increase, driven by a significant rise in crude output. Saudi Arabia boosted its oil production to 10 million barrels per day in October, up from 8.9 million barrels per day a year earlier. On a monthly basis, the sector inched up by 0.4%.
Manufacturing activity also recorded healthy growth, climbing 5.5% from last year. This was supported by an 8% rise in the production of coke and refined petroleum products and an 8.1% increase in chemical manufacturing. Month-on-month, the manufacturing index rose 0.9%, reflecting further gains in both segments.
The utilities sector delivered mixed results. Electricity, gas, steam and air-conditioning supply rose 5.1% annually but declined 5.8% from September. Water, sewerage, and waste management grew 8.5% compared to last year and 0.6% compared to last month.
Saudi Arabia’s industrial growth reflects Vision 2030, which aims to expand industries beyond oil. The economy grew 4.8% in the third quarter.
