FX.co ★ Saudi Arabia Industrial Output Down 18.7% in May

Saudi Arabia’s industrial production fell 18.7% year-on-year in May 2026, a marginal improvement from the 19.2% contraction recorded in April. The downturn was largely driven by a 26.3% decline in oil-related activities, reflecting steep drops in the extraction of crude petroleum and natural gas (-28.6%) and in the output of coke and refined petroleum products (-16.7%).

Non-oil activities slipped 0.5%, as manufacturing output declined 0.6%. Within manufacturing, production of chemicals (-4.0%) and food products (-3.5%) weakened, though these decreases were partially offset by a strong increase in basic metals production (12.8%).

Other industrial activities grew 3.3%, supported by a 5.7% rise in water supply, sewerage, waste management and remediation services. In contrast, electricity, gas, steam and air-conditioning supply fell 1.4%.

On a month-on-month basis, overall industrial output rose 3.2% in May, rebounding from a 6.5% decline in April.