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Saudi Arabia’s exports of chemical products and related materials dropped 6% year-on-year (YoY) to nearly SAR 6.89 billion in May 2024.
Compared to April, chemicals exports rose by 18%, or SAR 1.06 billion.
Chemical products and related materials represented 24% of May’s SAR 28.9 billion non-oil exports, as shown in the following table:
Exports of Chemical Products & Related Materials (SAR mln)* | ||||
Month | 2023 | 2024 | Change (%) | Chemicals to total non-oil exports (%) |
January | 7,035.2 | 5,479.7 | (22%) | 23% |
February | 6,933.6 | 5,510.5 | (21%) | 24% |
March | 7,512.2 | 6,754.7 | (10%) | 29% |
April | 6,673.1 | 5,824.6 | (13%) | 26% |
May | 7,340.2 | 6,885.9 | (6%) | 24% |
June | 5,762.8 | — | — | — |
July | 6,314.6 | — | — | — |
August | 6,479.1 | — | — | — |
September | 6,297.2 | — | — | — |
October | 6,963.4 | — | — | — |
November | 6,680.4 | — | — | — |
December | 8,564.6 | — | — | — |
*Data is periodically updated.
India was the largest importer of Saudi Arabia’s chemical products in May, accounting for about SAR 1.27 billion, or 18.5% of the total. China and the UAE followed with 12.4% and 8.3%, respectively, as shown in the table below:
Major Importers from Saudi Arabia in May (SAR mln) | ||
Country | Value | Percentage to total chemicals exports |
India | 1,277.2 | 18.5% |
China | 851.8 | 12.4% |
UAE | 568.2 | 8.3% |
Belgium | 443.1 | 6.4% |
US | 394.4 | 5.7% |
Thailand | 383.8 | 5.6% |
Singapore | 274.4 | 4.0% |
Australia | 248.1 | 3.6% |
Turkey | 193.6 | 2.8% |
Brazil | 181.0 | 2.6% |
Pakistan | 173.5 | 2.5% |
Bangladesh | 169.8 | 2.5% |
Other countries | 1,727.1 | 25.0% |
Total | 6,885.9 | 100 % |
Saudi Arabia imported chemical products and related materials worth SAR 6.92 billion in May, down 5% YoY. Meanwhile, the imports rose 15%, or SAR 888.1 million, compared to April.
Chemical products and related materials made up 10% of May’s total imports of SAR 70.3 billion, as shown in the following table:
Imports of Chemicals Products & Related Materials (SAR mln)* | ||||
Month | 2023 | 2024 | Change (%) | Chemicals to total non-oil imports (%) |
January | 6,040.3 | 6,176.6 | 2 % | 9% |
February | 5,706.2 | 5,834.8 | 2 % | 9% |
March | 6,571.4 | 6,663.7 | 1 % | 10% |
April | 5,408.4 | 6,029.9 | 10 % | 10% |
May | 7,271.8 | 6,918.0 | (5%) | 10% |
June | 5,590.6 | — | — | — |
July | 6,500.7 | — | — | — |
August | 6,122.7 | — | — | — |
September | 5,280.5 | — | — | — |
October | 6,114.4 | — | — | — |
November | 5,889.4 | — | — | — |
December | 4,822.9 | — | — | — |
*Data is periodically updated.
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“ Saudi Arabia’s exports of chemical products and related materials dropped 6% year-on-year (YoY) to nearly SAR 6.89 billion in May 2024. Compared to April, chemicals exports rose by 18%,…”
Source Link: https://www.argaam.com/en/article/articledetail/id/1748648
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