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Report: GCC petrochemical exports to China rise to $15.2bn

November 16, 2015 at 10:18 am

The Gulf Cooperation Council petrochemical exports to China rose to about 13.37 million tonnes at a value of nearly $15.15 billion in 2014, a new report by the Gulf Petrochemicals and Chemicals Association (GPCA) revealed yesterday.

According to the report, the slowdown in the Chinese economy has not stopped the growth in GCC petrochemical exports to China during 2014.

“Volumes are up five per cent compared to 2013, while revenues increased by five per cent,” it added.

Basic and intermediate chemicals constituted the largest proportion of GCC petrochemical exports to China accounting for 61 per cent followed by polymers exports which amounted to 38 per cent and fertilizer at one per cent.

The report pointed out that Saudi Arabia is responsible for 64 per cent of the export volume to China; valued at almost $10 billion.

The UAE is the GCC’s second largest exporter to China, responsible for 11 per cent of the total volume; valued at almost $2 billion, followed by Kuwait, responsible for 10 per cent of total exports, valued at about $1.6 billion.