Dubai – The production capacity of the Gulf Cooperation Council (GCC) chemical industries reached 166.8 million tons last year, an increase of 7% over 2016. In 2018, the production capacity could reach 170.9 million tons. The data was revealed this Tuesday (27) by the Secretary-General of the Gulf Petrochemicals and Chemicals Association (GPCA) Abdulwahab Al Sadoun, according to the Emirates News Agency (WAM).
The GCC chemical industry overseas production capacity reached 18.6 million tons in 2017. The industry’s companies have facilities in North America, Europe and Asia.
The industry’s revenues totaled USD 84.2 billion, up 17% over the previous year, the strongest annual growth since 2011. Saudi Arabia’s industry output surged 19%, with the United Arab Emirates industry output climbing 17%. Besides these two countries, the GCC also includes Bahrain, Qatar, Kuwait and Oman.
The bloc’s exports of chemical products generated USD 55.6 billion, with 70.3 million tons shipped out.
The industry is one of the leading sources of employment in the region, accounting for 3% of the total, or 880,000 job posts, according to WAM.
Translated by Sérgio Kakitani
