The trade of goods between China and Arab countries has grown more than 8 times in 20 years

2024 marks the 20th anniversary of the establishment of the China Arab States Cooperation Forum. On the 30th, the General Administration of Customs released data showing that in the past 20 years, China's total import and export value of goods to the Arab League has increased from 303.81 billion yuan in 2004 to 2.8 trillion yuan in 2023, an increase of 820.9%.

Specifically, in the first four months of this year, China's imports and exports to the Arab League reached a record high of 946.17 billion yuan, a year-on-year increase of 3.8%, accounting for 6.9% of China's total foreign trade value. Among them, exports amounted to 459.11 billion yuan, a year-on-year increase of 14.5%; Imports amounted to 487.06 billion yuan, a decrease of 4.7%.

The United Arab Emirates, Iraq, Oman, Qatar, Egypt, and Saudi Arabia are the top six countries in terms of China's import and export value to the Arab League. In the first four months of this year, the year-on-year growth rates of imports and exports between China and these six countries were 14.5%, 15.2%, 10%, 4.6%, 6.6%, and a slight decrease of 2%, respectively. The total import and export value accounted for 84.8% of China's total import and export value to the Arab League.

In terms of exports, China is the largest source of imports for automobiles, textiles, and clothing from the Arab League. In the first four months, China's exports of automobiles and textiles and clothing to the Arab League increased by 66.3% and 3.2% year-on-year, respectively.

International data shows that in the first quarter of this year, China accounted for about 17.5% of the Arab League's automobile import market share, rising from the second largest import source of Arab League automobiles in 2023 to the first largest import source of Arab League automobiles. In 2023, China accounted for approximately 49.6% of the Arab League's textile and clothing import market share, making it the largest import source of Arab League textile and clothing. It continued to maintain its position as the largest import source in the first quarter of this year.

In terms of imports, the Arab League is the largest source of energy products for China. In the first four months, China imported 397.29 billion yuan of energy products from the Arab League, a year-on-year decrease of 4.4%, accounting for 38% of China's total energy product imports during the same period.

In addition, in the first four months, Chinese private enterprises accounted for 497.14 billion yuan in imports and exports to the Arab League, a year-on-year increase of 16.3%, an increase of 5.7 percentage points compared to the same period last year to 52.5%. For the first time in history, the proportion of private enterprises in imports and exports to the Arab League exceeded 50%.

"The economic and trade cooperation between China and Arab countries is not only naturally complementary but also has enormous potential." Li Shaoxian, Dean of the China Arab Countries Research Institute at Ningxia University, stated that in addition to deepening cooperation with Arab countries in energy such as oil and gas, China and Arab countries have also achieved fruitful results in cooperation in artificial intelligence, 5G, and other fields. Some Gulf countries also have a strong interest in lunar exploration, space exploration, and other areas. In the future, there is a wide range of cooperation space between China and Arab countries in the conversion of new and old energy, new energy, and high-tech development. (Reporter Zou Duowei and Ai Fumei)