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Saudi Arabia's exports of chemical industry and related products reached nearly SAR 6.93 billion in February 2023, a 20% year-on-year (YoY) decline.
Compared to January 2023, exports of chemical products fell by SAR 101.6 million, or 1%.
Exports of chemicals represented 33% of total non-oil exports in February, amounting to SAR 20.91 billion, as shown in the following table:
|
Export of Chemical Industry & Related Products (SAR mln) |
||||
|
Month |
Exports 2022 |
Exports 2023 |
Change (%) |
Chemical products exports to total non-oil exports (%) |
|
January |
7,519.0 |
7,035.2 |
(6%) |
31% |
|
February* |
8,731.0 |
6, 933.6 |
(20%) |
33% |
|
March |
10,339.4 |
-- |
-- |
-- |
|
April |
10,028.1 |
-- |
-- |
-- |
|
May |
9,859.4 |
-- |
-- |
-- |
|
June |
10,519.5 |
-- |
-- |
-- |
|
July |
9,579.3 |
-- |
-- |
-- |
|
August |
9,518.3 |
-- |
-- |
-- |
|
September |
9,702.2 |
-- |
-- |
-- |
|
October |
10,196.8 |
-- |
-- |
-- |
|
November |
8,833.9 |
-- |
-- |
-- |
|
December* |
8,122.0 |
-- |
-- |
-- |
India topped the list of countries importing chemical products from Saudi Arabia by nearly SAR 949 million and 14% of the total value of exports of chemical products in February. China and the Belgium followed at 13% and 7%, respectively, as indicated in the table below:
|
Major Importers from Saudi Arabia in February 2023 (SAR mln) |
||
|
Country |
Value |
Percentage to total chemical products exports (%) |
|
India |
949 |
13.70% |
|
China |
905 |
13.10% |
|
Belgium |
509.3 |
7.30% |
|
US |
459.8 |
6.60% |
|
UAE |
448.8 |
6.50% |
|
South Korea |
437.6 |
6.30% |
|
Singapore |
392.4 |
5.70% |
|
Germany |
391.9 |
5.70% |
|
Australia |
306.3 |
4.40% |
|
Brazil |
191.4 |
2.80% |
|
Kenya |
189 |
2.70% |
|
Thailand |
152.7 |
2.20% |
|
Pakistan |
140.9 |
2.00% |
|
Egypt |
117.7 |
1.70% |
|
Other countries |
1341.8 |
19.40% |
|
Total |
6933.6 |
100% |
On the other hand, the Kingdom's imports of chemical and industry-related products amounted to SAR 5.71billion during the month, 5% down YoY.
Compared to January 2023, imports of chemical and industry-related products in February 2023 declined by SAR 333.6 million, or 6%.
Imports of chemical and industry-related products during January accounted for 10% of the total imports amounting to SAR 56.58 billion.
The following table Saudi Arabia’s imports of chemical products:
|
Saudi Arabia’s Imports of Chemical and Industry-Related Products (SAR mln) |
||||
|
Month |
Imports 2022 |
Imports 2023 |
Change (%) |
Percentage to total imports |
|
January |
5,538.9 |
6,029.4 |
+9% |
9 % |
|
February* |
6,048.7 |
5,706.2 |
(5%) |
10% |
|
March |
6,843.4 |
-- |
-- |
-- |
|
April |
5,456.7 |
-- |
-- |
-- |
|
May |
5,420.3 |
-- |
-- |
-- |
|
June |
6,278.4 |
-- |
-- |
-- |
|
July |
5,488.9 |
-- |
-- |
-- |
|
August |
6,621.9 |
-- |
-- |
-- |
|
September |
5,552.5 |
-- |
-- |
-- |
|
October |
6,044.1 |
-- |
-- |
-- |
|
November |
5,660.1 |
-- |
-- |
-- |
|
December* |
5,641.5 |
-- |
-- |
-- |
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