Prime Highlights :
- Saudi Arabia’s chemical exports rose 18 percent year-on-year to SR6.92 billion, strengthening non-oil trade performance.
- The sector remains a key pillar of industrial growth, supported by long-term expansion plans under the National Industry Strategy.
Key Facts :
- Chemicals and related products accounted for 22 percent of Saudi Arabia’s total non-oil exports in February.
- Saudi Arabia contributes 51 percent of GCC manufacturing GDP and ranks among the top global chemical producers.
Background :
Saudi Arabia’s chemical exports climbed 18 percent year-on-year in February, reaching close to SR6.92 billion, equivalent to roughly $1.84 billion, according to figures released by official sources.
Data from the General Authority for Statistics showed that chemical exports were up SR547.9 million, or 9 percent, compared to the month before. The sector continued to hold its ground as one of the stronger performers within the Kingdom’s non-oil trade.
Chemicals and related products made up 22 percent of Saudi Arabia’s total non-oil exports, which came in at SR31.6 billion for the month, keeping the sector among the top contributors to the country’s industrial export figures.
Saudi Arabia carries considerable weight in both regional and global manufacturing. It accounts for 51 percent of total manufacturing GDP across the Gulf Cooperation Council and holds around 1.6 percent of global chemical sales, putting it in the company of the world’s leading chemical producers.
The National Industry Strategy sets out ambitious targets for the sector over the next ten years, including a four-fold rise in downstream chemical output by 2035, a SR58.2 billion contribution to the broader economy, and the creation of around 108,000 jobs through localization programs.
Australia topped the list of importers of Saudi chemicals during the month, with India coming in second, pointing to solid international appetite for the Kingdom’s output.
On the import side, chemical imports fell 7 percent year-on-year in February, though they still represented 8 percent of the country’s total imports for the month.
Officials noted that the chemicals sector feeds directly into industries such as construction, healthcare, automotive, and packaging, and plays a central part in the Kingdom’s broader push to reduce its reliance on oil and build a more diversified industrial base.
