China-Arab trade at historic high in first four months

2024-05-31 Editor : Li Yan ECNS App Download

(ECNS) -- Trade between China and the Arab League hit a historic high in the first four months of this year with the total imports and exports of 946.17 billion yuan ($130.7 billion), an increase of 3.8 percent year-on-year.

China's total trade volume surged to 2.8 trillion yuan with the Arab League in 2023 from 303.81 billion yuan in 2004, up 820.9 percent.

China's imports and exports to nine partner countries, including the United Arab Emirates and Iraq, grew rapidly.

Trade value between China and its six top trade partners in the Arab League, including the United Arab Emirates, Iraq, Oman, Qatar, Egypt, and Saudi Arabia accounted for 84.8 percent in the first four months of 2024.

China is the largest source of automobile and textile and garment imports to the Arab League. From January to April, its exports of mechanical and electrical products to the Arab League reached 256.1 billion yuan, a year-on-year increase of 23.1 percent, of which the export of automobiles increased by 66.3 percent.

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, accounting for 38 percent of its total energy product imports.

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