RIYADH: The Kingdom’s contribution to the chemicals industry and chemical products in the GCC in 2010 exceeded 70 percent of the total $73.2 billion of investment, followed by Qatar, Kuwait, Oman, UAE and Bahrain, respectively.
The latest statistics issued by the Gulf Organization for Industrial Consulting (GOIC) revealed that Saudi Arabia, being one of the leading exporters in the region, its exports of chemicals and chemical products amounted to $10.8 billion in 2005.
“Exports increased to $16.2 billion in 2008. Due to the global economic crisis, they decreased to $13.7 billion. The Kingdom’s imports also increased from about $5 billion in 2005 to $8.5 billion, while the same decreased to $7.6 billion in 2009, according to the latest GOIC statistics,” the report said.
As for Qatar, which is ranked second as an exporter of chemicals and chemical products, its exports in 2005 amounted to nearly $1.85 billion and rose to $2.4 billion in 2006.
Recent years have seen a steady rise in imports and exports of chemicals and chemical products in the GCC countries. Exports reached $14 billion in 2005 and up to $16.2 billion in 2006 and $20.7 billion in 2007. In 2008, they reached approximately $26 billion, before they were affected by the global crisis. In 2009 they declined to $22 billion.
In 2005, imports were estimated at nearly $10.8 billion. They rose in successive years, respectively, to nearly $14 billion, $17.9 billion, $23.2 billion in 2008, falling to $20.7 billion in 2009.
Chemicals and chemical products industry sector covers a group of sub-industries, according to the International Classification of economic activities in its fourth application, including manufacturing of basic chemicals, fertilizers, nitrogen compounds, plastics and synthetic rubber in primary forms and industries of a variety of goods such as pesticides, paint, inks, soaps and cleaning products, perfumes and cosmetics in addition to synthetic fibers.
The Gulf Organization for Industrial Consulting (GOIC) is a regional organization based in Doha, Qatar, operating as a knowledge-based consultant to develop industries in the region through the provisioning of data, information, specialized researches, consulting and technical services to public and private sectors in the GCC countries.
It is the first expertise house in the area of industrial consulting. It contributes to driving and advancing industrial development of the GCC countries and Yemen, in addition to industrial coordination between member states.
Source : Arab News, Jul 13, 2011 01:51.