Industrial production in Saudi Arabia eased to 4.1% year-on-year in March of 2023, from a 6% gain in the prior month. The latest reading marked the softest pace in industrial output since May 2021, mainly due to production slowed for mining & quarrying (1.6% vs 2.2%) as Saudi Arabia decreased its oil production to 10 million barrels a day from over 11 million barrels a day in previous months. Production also eased for manufacturing activity (10.5% vs 16.8%). On the other hand, output surged for electricity and gas supplies (16.6% vs 12.9%). On a monthly basis, industrial production went up by 0.2% in March, after a 0.1% growth in February. source: Central Department of Statistics and Information
Industrial Production in Saudi Arabia averaged 2.90 percent from 1963 until 2023, reaching an all time high of 26.70 percent in April of 2022 and a record low of -24.90 percent in December of 1982. This page provides - Saudi Arabia Industrial Production - actual values, historical data, forecast, chart, statistics, economic calendar and news. Saudi Arabia Industrial Production - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.
Industrial Production in Saudi Arabia is expected to be 2.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Saudi Arabia Industrial Production is projected to trend around 3.50 percent in 2024 and 3.00 percent in 2025, according to our econometric models.