Saudi Arabian petrochemical sales touch SR303bn in 2013

13 Mar '14

1 min read

Listed petrochemical firms in Saudi Arabia together sold SR303 billion worth of petrochemical products in 2013, accounting for about 11 percent of the Kingdom’s gross domestic product, Arab News reported quoting local media.

The Saudi Basic Industries Corporation (SABIC) bagged the highest share of 62.3 percent in the total sales, followed by PetroRabigh with 16.7 percent share, Tasnee with 6 percent, Saudi Kayan with 3.4 percent and Yanbu National Petrochemical Company with 3.1 percent, the report said.

Region-wise, more than half of the Saudi petrochemical products were purchased by the Asian countries, including the Middle Eastern countries, in 2013, while Europe and the US absorbed 15 percent and 7 percent of the products, respectively.

Domestic market accounted for around 14 percent of petrochemical sales, while African countries bought 5 percent of the Saudi Arabian products, the report said.

Meanwhile, the profit of the Saudi Arabian petrochemical industry grew by 3 percent year-on-year in 2013 to SR34.77 billion, as against the last year’s profit of SR33.9 billion.

SABIC alone accounted for SR25.23 billion or 72 percent of the overall profit of the Saudi Arabian petrochemical sector during the year.

Fibre2fashion News Desk - India