China-Arab trade booms over two decades

[FHN]

BEIJING, May 30 (Xinhua) -- Trade between China and the Arab League has witnessed robust expansion as the two sides bolstered economic cooperation since the China-Arab States Cooperation Forum was established 20 years ago, customs data showed.

Total goods trade volume between China and members of the Arab League surged to 2.8 trillion yuan (about 393.75 billion U.S. dollars) in 2023 from 303.81 billion yuan in 2004, an increase of 820.9 percent, according to China's General Administration of Customs (GAC).

In the first four months of 2024, China's imports and exports with the Arab League climbed 3.8 percent year on year to a historic high of 946.17 billion yuan, accounting for 6.9 percent of the country's total foreign trade value.

The United Arab Emirates, Iraq, Oman, Qatar, Egypt, and Saudi Arabia are China's top six trade partners in the Arab League in terms of trade value. They took up 84.8 percent of the total China-Arab trade in the first four months, GAC data revealed.

China is the largest source of automobile imports, as well as textiles and garments, to the Arab League. Between January and April this year, Chinese exports under these two catalogs increased by 66.3 percent and 3.2 percent year on year, respectively.

The Arab League is China's largest import source of energy products. In the first four months of 2024, China imported 397.29 billion yuan worth of energy products from the Arab League, or 38 percent of China's total energy product imports in this period.

Also, in the first four months of this year, trade between China's private enterprises and the Arab League totaled 497.14 billion yuan, up 16.3 percent year on year. In the same period, it accounted for 52.5 percent of the total China-Arab trade, an increase of 5.7 percentage points compared with a year ago.

The 10th ministerial meeting of the China-Arab States Cooperation Forum was held in Beijing on Thursday. During the conference, China signed a number of bilateral and multilateral cooperation documents with the participating countries and the General Secretariat of the Arab League.

 

[ST1976]

BEIJING, May 30 (Xinhua) -- Trade between China and the Arab League has witnessed robust expansion as the two sides bolstered economic cooperation since the China-Arab States Cooperation Forum was established 20 years ago, customs data showed.

Total goods trade volume between China and members of the Arab League surged to 2.8 trillion yuan (about 393.75 billion U.S. dollars) in 2023 from 303.81 billion yuan in 2004, an increase of 820.9 percent, according to China's General Administration of Customs (GAC).

In the first four months of 2024, China's imports and exports with the Arab League climbed 3.8 percent year on year to a historic high of 946.17 billion yuan, accounting for 6.9 percent of the country's total foreign trade value.

The United Arab Emirates, Iraq, Oman, Qatar, Egypt, and Saudi Arabia are China's top six trade partners in the Arab League in terms of trade value. They took up 84.8 percent of the total China-Arab trade in the first four months, GAC data revealed.

China is the largest source of automobile imports, as well as textiles and garments, to the Arab League. Between January and April this year, Chinese exports under these two catalogs increased by 66.3 percent and 3.2 percent year on year, respectively.

The Arab League is China's largest import source of energy products. In the first four months of 2024, China imported 397.29 billion yuan worth of energy products from the Arab League, or 38 percent of China's total energy product imports in this period.

Also, in the first four months of this year, trade between China's private enterprises and the Arab League totaled 497.14 billion yuan, up 16.3 percent year on year. In the same period, it accounted for 52.5 percent of the total China-Arab trade, an increase of 5.7 percentage points compared with a year ago.

The 10th ministerial meeting of the China-Arab States Cooperation Forum was held in Beijing on Thursday. During the conference, China signed a number of bilateral and multilateral cooperation documents with the participating countries and the General Secretariat of the Arab League.

there was a time when developing countries used to pay high price of oil/gas and then OPEC/Arab nations buy expansive products from Western countries. and this trend continued till last century, till rise of Chinese export......

now we find OPEC/Arab nations pay less price for Chinese imported items, as compared to Western products. and this way now oil price is also less, similar to price of Chinese products

 

[ST1976]

once we discussed difference between Japanese and Chinese roads. Chinse funded roads in African nations also. and we found Chinese class roads/products is available for all those countries who want.....

if Chinese industries progress, then other countries like Indonesia-India try to catch up with China. more China goes forward, India-Indonesia and other developing countries try to cope/catch up with China industries.....

India welcomed high trade deficit with China during this century as it was estimated that by 8-10 years, mostly, Indian firms also match with those Chinese items, in terms of price and quality both.
by techniques like reverse engineering etc, which was less possible with western/Japanese products till 80s....

in sum, more China progress, it finally help emerging countries.....