A production line
Saudi Arabia’s Industrial Production Index (IPI) declined by 8.7% year-on-year (YoY) in March. 
Data issued by the General Authority for Statistics (GASTAT) showed that Saudi IPI fell to 104.48 points in March 2024, according to the base year 2021, compared to 114.47 points in March 2023.
The index was directly affected by the decline inthemining and quarryingactivity, whichaccounts for 61.4% of the index, the authority said.
The IPI measures the relative change and reflects the production quantities of materials and goods, which have been converted from raw materials to consumables in their final form as goods, for the purpose of achievinga return.
The following table shows the development of the index:
Industrial Production Index (IPI)*
Period**
IPI (Points)
Change (YoY)
January2023
113.28
(10.1%)
February
112.09
(11.7%)
March
114.47
(11.6%)
April
112.43
(13.6%)
May
109.45
(16.9%)
June
110.08
(17.3%)
July
104.52
(22.7%)
August
103.93
(25.3%)
September
105.95
(23.5%)
October
101.78
(26.8%)
November
100.37
(25.8%)
December
102.13
(23.4%)
January 2024
102.10
(9.9%)
February
104.69
(6.6%)
March
104.48
(8.7%)
*Updated according to base year 2021.
The mining and quarrying activity dropped by 14.2% YoY as the Kingdom’s oil production was cut to 8.9 million barrels per day in March.
The electricity, gas, steam and air-conditioning supply activity rose 7.4% YoY, while the water supply, sanitation, waste management and treatment activities increased by 5.5% YoY.
IPI by Activity
Main Sectors
March 2023
March 2024
Change
Mining Quarrying
114.77
98.42
(14.2%)
Manufacturing
116.59
116.14
(0.4%)
Electricity, Gas, Steam Air-Conditioning Supply
81.80
87.87
7.4%
Water Supply, sanitation, Waste Management Treatment
112.98
119.20
5.5%
IPI
114.47
104.48
(8.7 %)
A production line
Saudi Arabia’s Industrial Production Index (IPI) declined by 8.7% year-on-year (YoY) in March.
Data issued by the General Authority for Statistics (GASTAT) showed that Saudi IPI fell to 104.48 points in March 2024, according to the base year 2021, compared to 114.47 points in March 2023.
The index was directly affected by the decline inthemining and quarryingactivity, whichaccounts for 61.4% of the index, the authority said.
The IPI measures the relative change and reflects the production quantities of materials and goods, which have been converted from raw materials to consumables in their final form as goods, for the purpose of achievinga return.
The following table shows the development of the index:
Industrial Production Index (IPI)*
Period**
IPI (Points)
Change (YoY)
January2023
113.28
(10.1%)
February
112.09
(11.7%)
March
114.47
(11.6%)
April
112.43
(13.6%)
May
109.45
(16.9%)
June
110.08
(17.3%)
July
104.52
(22.7%)
August
103.93
(25.3%)
September
105.95
(23.5%)
October
101.78
(26.8%)
November
100.37
(25.8%)
December
102.13
(23.4%)
January 2024
102.10
(9.9%)
February
104.69
(6.6%)
March
104.48
(8.7%)
*Updated according to base year 2021.
The mining and quarrying activity dropped by 14.2% YoY as the Kingdom’s oil production was cut to 8.9 million barrels per day in March.
The electricity, gas, steam and air-conditioning supply activity rose 7.4% YoY, while the water supply, sanitation, waste management and treatment activities increased by 5.5% YoY.
IPI by Activity
Main Sectors
March 2023
March 2024
Change
Mining Quarrying
114.77
98.42
(14.2%)
Manufacturing
116.59
116.14
(0.4%)
Electricity, Gas, Steam Air-Conditioning Supply
81.80
87.87
7.4%
Water Supply, sanitation, Waste Management Treatment
112.98
119.20
5.5%
IPI
114.47
104.48
(8.7 %)
