19 November 2013 07:29 [Source: ICIS news]
DUBAI (ICIS)--The Gulf Cooperation Council (GCC) chemicals sector contributed 46%, or $52.9bn (€39.1bn), of all non-oil exports in the region last year, the Gulf Petrochemicals and Chemicals Association (GPCA) said in a report.
The dependency of non-oil exports on energy intensive industries such as chemicals is different among GCC states, which consist of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE), according to the GPCA report titled "GCC Petrochemicals and Chemicals Industry: Facts & Figures 2012".
The report was released during the GPCA Forum 2013 in Dubai which runs on 19-21 November.
The highest dependency was seen in Qatar, where chemicals accounted for 68% of total non-oil exports in 2012, the GPCA said.
In Saudi Arabia, the largest chemicals producer in the GCC, chemicals made up 63% of total non-oil exports in 2012, while in Kuwait the share of chemicals in non-oil exports was at 56%, it said.
Non-oil exports in the UAE were the most diversified, with chemicals accounting for only 12% of the overall shipments abroad, according to the GPCA report.
GCC non-oil exports grew by an average of 20% per annum between 2001 and 2012, with Qatar registering the highest growth of 24% during that period, it added.
As a result, the share of non-oil exports in the overall shipments of goods abroad from the GCC has risen from 15% in 2001 to 18% in 2012, according to the GPCA.
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