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Saudi Arabia’s industrial production index expanded by 3.1 per cent year on year in April, driven by strong growth in the manufacturing, mining, and quarrying industries, official data showed, reports Arab News.
According to preliminary data from the General Authority for Statistics, the kingdom’s IPI advanced to 108.6 in April, representing a 0.6pc rise compared to the previous month.
The latest IPI figures reinforce the progress of Saudi Arabia’s economic diversification journey, which aims to reduce the kingdom’s decades-long dependence on crude revenues.
“Preliminary results indicated a 3.1pc increase in the IPI in April 2025 compared to the same month of the previous year, supported by the rise in mining and quarrying activity, manufacturing activity and water supply, sewerage and waste management and remediation activities,” the analysis stated.
GASTAT revealed that the sub-index of manufacturing activities advanced by 7.4pc in April compared to the same month in 2024.
The authority added that the index of oil activities saw an annual rise of 4.3pc in the fourth month of the year, while non-oil activities edged up by 0.1pc. Compared with March, oil activities rose by 1.6pc, whereas non-oil activities declined by 2pc.
GASTAT added that the growth in the manufacturing sector was driven by an increase in the production of coke and refined petroleum products, which grew by 22.6pc year on year in April.
The chemical manufacturing sector also contributed to the rise, increasing 9.1pc annually.
On a monthly basis, the sub-index of manufacturing activity witnessed a rise of 0.5pc, driven by a 5.8pc increase in the production of coke and refined petroleum products.
The expansion of the manufacturing sector highlights the evolving structural transformation of the Saudi economy, with the kingdom positioning itself as a key player in the global industrial landscape.
In April, the sub-index of mining and quarrying activities increased by 0.2pc compared to the same month in 2024.
“Saudi Arabia increased its oil production to 9.01 million barrels per day in April 2025 compared to 8.99 million barrels per day in April 2024,” said GASTAT.
On a monthly basis, the sub-index of mining and quarrying activity increased by 0.5pc in April.
According to the report, the electricity, gas, steam, and air conditioning supply sector registered an annual decrease of 0.2pc but saw a monthly rise of 4.3pc.
GASTAT further said that water supply, sewerage, and waste management activities increased by 8.8pc year on year in April, while it declined by 0.7pc compared to the previous month.
Compared to March, the index for oil activities increased by 1.6pc in April, while non-oil activities dropped by 2pc.
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.
Meanwhile, Saudi Arabia’s insurance sector is headed for a wave of consolidation as tougher capital rules and fierce price competition squeeze smaller players, Fitch Ratings said in a new report.
The agency expects mergers and acquisitions to accelerate as many insurers struggle to meet new capital requirements or remain profitable amid intense competition and rising costs.
The shakeout comes as the newly established Saudi Insurance Authority, which took over from the Saudi Central Bank and the Council of Health Insurance in November 2023, steps up efforts to stabilize and modernise the market in line with Vision 2030.
Several smaller insurers are already in talks with larger rivals as they look for ways to shore up their capital positions and ensure long-term survival.
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