The chemical manufacturing industry has established a presence in the Gulf region, creating value from a wide range of products. The chemical sector’s economic impact in 2018 was substantial, making it a key industry in the region’s economy. The industry demonstrates its economic value through high annual GDP contributions and supporting more jobs across different channels. In return, several sectors and activities thrive, boosting regional production and raising living standards.
To understand the current impact of the GCC chemical industry on the economy, GPCA provides another industry first report in the Arabian Gulf with in-depth information on industry activities – Beyond Petroleum: The Impact of the Chemical Industry on the Arabian Gulf Economy. The report also quantifies the activities’ total economic impact. It serves as an essential guide for industry leaders and those looking to enter the growing chemical market. The analysis of the report focuses on two key measures of economic value: the number of jobs sustained each year by the Arabian Gulf’s chemical industry, and its contribution to GDP by each respective country. Three channels of influence are also introduced to assess the economic impact – direct impact, indirect impact and induced impact.