Saudi Arabia Industrial Output Down 18.7% in May

Industrial production in Saudi Arabia fell 18.7% year-on-year in May 2026, easing slightly from a 19.2% decline in April. The downturn was driven by a 26.3% slump in oil-related activities, reflecting sharp contractions in crude petroleum and natural gas extraction (-28.6%) and coke and refined petroleum products (-16.7%). Meanwhile, non-oil activities edged down 0.5%, as manufacturing slipped 0.6%, weighed by declines in chemicals (-4.0%) and food products (-3.5%), partly offset by gains in basic metals (12.8%). Other economic activities expanded 3.3%, supported by growth in water supply, sewerage, waste management and remediation activities (5.7%), although electricity, gas, steam and air-conditioning supply fell 1.4%. On a monthly basis, industrial output rose 3.2% in May, rebounding from a 6.5% drop in April.

Industrial production in Saudi Arabia plunged 19.1% year-on-year in April 2026, slipping further from an upwardly revised 15.8% drop in the previous month. It marked the steepest annual decline since April 2021, as oil-related activities slumped 27.8%, weighed down by sharp contractions in crude petroleum and natural gas extraction (-29.9%) and in coke and refined petroleum products (-18.7%). Meanwhile, non-oil activities expanded 2.1%, supported by growth in manufacturing (0.3%), particularly in the manufacture of non-metallic mineral products (5.7%) and basic metals (10.4%). Output also increased in other economic activities (4.1%), driven by gains in electricity, gas, steam and air-conditioning supply (20.8%) and water supply, sewerage, waste management and remediation activities (8.8%). On a monthly basis, industrial output fell 6.8%, easing sharply from an upwardly revised 23.8% slump in March.

Industrial production in Saudi Arabia slumped 14.1% year-on-year in March 2026, reversing an upwardly revised 15.0% surge in the previous month. Oil activities contracted (-20.0% vs 11.5% in February), weighed down by lower output in coke and refined petroleum products (-11.6% vs 5.2%) and crude petroleum and natural gas extraction (-22.2% vs 13.0%). Non-oil sectors stalled after rising 2.4%, as increases in water supply, sewerage, waste management, and remediation services (1.1% vs 8.1%), along with electricity, gas, steam, and air-conditioning supply (10.1% vs -3.7%), were offset by declines in manufacturing (-4.7% vs 2.8%). On a monthly basis, industrial activity plunged 22.3%, reversing an upwardly revised 3.7% rise in the previous month