Saudi exports rise sharply

December 29, 2010

Saudi petrochemical exports rose 32 percent in value in the third quarter of 2010, as compared to the same period last year, as prices rebounded amid strong demand from Asia and the European Union, according to the latest report from the Department of Statistics and Information. Saudi Arabia exported 5.89 million tons of petrochemicals in the third quarter, 16 percent more than same period last year and a 9.6 increase from the second quarter. Total exports increased to SR9.59 billion [$2.56 billion] from SR7.28 billion [$1.94 billion]. The volume of non-oil exports increased 13 percent to Asia and 34 percent to the EU from last year, according to the data.

Meanwhile, the Director General of the Saudi Industrial Property Authority (Modon), Dr. Tawfiq Al-Rabiah, reported in a press statement yesterday that the number of industrial cities in the Kingdom will double from 14 to 30 in the next five years. The current area of industrial cities will be doubled from 74 to 150 million square meters, he added.

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