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The Output Growth Of Saudi Industries is Strongest In Last 5 Months

Industrial production

In Saudi Arabia the production groeth expanded by 10.3 percent year-on-year in November 2021, accelerating sharply from a 7.7 percent rise in the previous month.

It was the fastest rate in industrial production since June, as production grew faster for mining and quarrying (10.4 percent vs 9.1 percent in October), manufacturing (9.7 percent vs 4.0 percent), and electricity and gas supply (11.9 percent vs 4.7 percent).

On a seasonally adjusted monthly basis, industrial output rose by 2.0 percent in November, following a 1.7 percent gain in the prior month.

The Saudi Arabian economy grew by 7.0% yoy in Q3 of 2021, the most since Q1 2012, after a 1.9% advance in Q2. It was also the second straight quarter of GDP expansion, mainly driven by a 9.3% growth in oil activities.