Saudi Arabia's petrochem & plastic exports on the rise

The value of Saudi Arabia’s petrochemical exports recorded 31% increase in February from a year earlier as crude oil prices hit above $100 a barrel. Having the world's largest oil reserves, the Kingdom exported $960 million of petrochemicals in February, according to figures from the Department of Statistics and Information. Petrochemical exports in February accounted for 32% of non-oil exports of the country, whilst exports of plastics comprised 34% of non-oil shipments. In terms of volume, Saudi Arabia shipped 2.49 million metric tonness of petrochemicals from its ports in February, up from 2.23 million tonnes a year earlier.