Saudi Industrial Output Falls Least in 5 Months

Industrial production in Saudi Arabia fell 8.1% year-on-year in July 2026, easing from a 16.3% slump in the previous month and marking the softest contraction since February. The decline in the oil sector slowed to 11.4% from 23.2% in June, largely reflecting a smaller drop in the extraction of crude petroleum and natural gas (-10.9% vs -27%), while output of coke and refined petroleum products fell at a steeper pace (-13.6% vs -6%). Moreover, output in other economic activities was unchanged at 3.4%, with both electricity, gas, steam, and air-conditioning supply (4.5% vs 2.8%) and water supply, sewerage, waste management, and remediation activities (7.8% vs 6%) accelerating. Meanwhile, output in non-oil activities slipped 0.3% after rising 0.1% in the previous month, weighed down by a sharper decline in manufacturing (-1.3% vs -0.5%). On a monthly basis, industrial output surged 10.4% in July from 4.6% in the previous month and marking its strongest monthly gain since April 2020.

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