麦加投资 مكه للاستثمار
The 13th annual forum of Gulf States Petroleum & Chemical International Conference took place in Jumeirah between 26th and 28th this November. The theme of the conference was “investment growth and transformation”. A new edition of GCC Data of Petrochemical and Chemical Industry was released as well,
According to the chairman of the conference, Dr. Abdullah Wahab, the total output of all petrochemical products of GCC countries in 2017 was 166.8 million ton. A 7% increase would be reached by the end this year, total production being 170.9 million tons. Besides, production of branches in North American, Asian, and European countries totaled 18.6 million tons.
The growth in demand and the rise in product prices throughout the year reflected the recovery in petrochemical sector of GCC countries. Last year, the total petrochemical income of GCC countries was $55.6 billion. Saudi Arabia and the UAE are the two countries that have the biggest impact on the region's petrochemical industry, with profits increasing 19% and 17% respectively.
The petrochemical and chemical industry of the GCC countries still has broad prospects in the long run. More than 20 different kinds of products will be produced in the next decade, and the chemical industry will become an important part of the region to deal with dependence on oil and realize economic diversification. At the same time, GCC countries are also committed to increasing investment overseas, enhancing their competitiveness and influencing the international market.
The petrochemical and chemical industry has directly and indirectly produced about 880,000 jobs to GCC countries, accounting for 3% of total employment in this region.
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