‎Chemicals exports dip 13% in March, imports up 1%

Saudi Arabia’s exports of chemical industry and related products dropped 13% year-on-year (YoY) to nearly SAR 6.54 billion in March.

Compared to February, the chemicals exports grew by 19%, or SAR 1.02billion, or 3%.

The exports of chemical industry and related products represented 28% of March’sSAR 23.3 billion non-oil exports, as shown in the following table:

Export of Chemical Industry & Related Products (SAR mln)

Month

2023

2024

Change (%)

Chemical products to total non-oil exports (%)

January

7035.2 

5479.7 

(22%)

23%

February

6933.6

5510.5

(21%)

24%

March

7512.2

6540.3

(13%)

28%

April

6673.4

—

—

—

May

7338.9

—

—

—

June

5762.8

—

—

—

July

6314.6

—

—

—

August*

6479.1

—

—

—

September*

6297.2

—

—

—

October

6963.4

—

—

—

November

6680.4

—

—

—

December

8564.6

—

—

—

*Updated.

China topped the list of chemical product importers from Saudi Arabia with nearly SAR 812.4 million, accounting for 12.4% of the total exports of chemical products in March. India and the UAE followed with 10.6% and 9%, respectively, as shown in the table below:

Major Importers from Saudi Arabia in March (SAR mln)

Country

Value

Percentage to total chemical products exports

China

812.4

12.4%

India

695.3

10.6%

UAE

588.8 

9.0%

Belgium

524.1 

8.0%

Thailand

413.7

6.3%

US

331.7

5.1%

Australia

293.2 

4.5%

Singapore

280.0 

4.3%

Spain

250.9

3.8%

Pakistan

193.0 

3.0%

Turkey

187.0 

2.9%

South Korea

170.5 

2.6%

Other countries

1799.7 

27.5%

Total

6540.3

100 %

The exports of chemical industry and related products reached SAR 6.61 billion in March, rising 1% YoY.

Chemicals imports jumped 13%, or SAR 772.8 million compared to February, accounting for 10% of the total imports of SAR 67.36 billion, , as shown in the following table:

Export of Chemical Industry & Related Products (SAR mln)

Month

2023

2024

Change (%)

Chemical products to total non-oil exports (%)

January

6040.3 

6176.6 

2 % 

9%

February

5706.2 

5834.8 

2 % 

9%

March

6571.4 

6607.6 

1 % 

10%

April

5885.2 

—

—

—

May

7314.6 

—

—

— 

June

5590.6 

—

—

—

July

6500.7 

—

—

—

August*

6122.7 

—

—

—

September*

5280.5 

—

—

—

October

6114.4 

—

—

—

November

5889.4

—

—

—

December

4822.9

—

—

—

*Updated.

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