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The value of Saudi Arabiaís non-oil exports to China is the highest in 15 months

May 10/2011

(Bloomberg) -- Saudi Arabiaís non-oil exports to China reached 1.75 billion Saudi riyals (USD 467 mln) in March, up 34 percent from a year earlier, according to data posted today on the Department of Statistics and Informationís website. The value of non-oil exports to China increased as prices for petrochemicals benefited from high oil prices, as well as the introduction of new products.


China, Singapore and India accounted for one-quarter of Saudi non-oil exports in March, the departmentís data showed. Saudi Arabiaís non-oil exports by value increased by 33 percent to Singapore and by 5.8 percent to India.


Petrochemical exports made up 34 percent of non-oil exports from Saudi Arabia in March, while exports of plastics such as Polyethylene terephthalate comprised 33 percent, the data showed. Polyethylene terephthalate is used to make plastic bottles.


China was the largest importer of Saudi petrochemicals and plastics in 2010 in terms of volume, according to the Department of Statistics and Information. China imported 5.9 million tons of non-oil exports in 2010 from Saudi Arabia, mainly comprised of petrochemicals and plastics.


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