Saudi Arabia’s November petrochemical exports at 8 month high on strong demand from Asia

12-Jan-11

Saudi Arabia’s petrochemical exports have peaked to an eight-month high in November, mainly due to strong demand from China, India and other Asian countries, as per Bloomberg. The kingdom’s exports of 3.54 billion riyals (US$944 mln) of petrochemicals in November have been the highest since March 2010 exports of 3.59 billion riyals. Exports of petrochemicals, plastics and other non-oil products to Asian countries increased by 9.8% to 3.57 billion riyals in November, making this the biggest month-to-month increase in non-oil exports to Asia since March. Non-oil sales to China were 1.39 billion riyals in November, the most since December 2009. Saudi non-oil exports to India grew by 15.3% in November to 670 million riyals, according to the data. Demand from European Union countries was little changed in November, with the department reporting that non-oil exports to the EU totaled 1.16 billion riyals, down 0.2 percent from October.