GASTAT: Non-Oil Activities Increase by 5.3% in 2024

The General Authority for Statistics (GASTAT) today released the annual Industrial Production Index (IPI) for 2024, revealing a 2.3% year-over-year decrease primarily driven by a 5.2% drop in oil activity, while non-oil activities recorded a 5.3% increase, reflecting improved performance across all non-oil economic sectors compared to 2023.
 According to the statistics, the annual index for mining and quarrying activity decreased by 6.8% compared to 2023, while the annual index for manufacturing activity increased by 4.7%.
 The annual index for electricity, gas, steam, and air conditioning supply activities increased by 3.5%, while the index for water supply, sewerage, waste management, and remediation activities rose by 1.6% compared to 2023.
 The IPI is an economic indicator that measures changes in the volume of industrial output based on data from the industrial production survey.