China&Saudi Arabia

In: Business and Management

Submitted By ngonya
Words 379
Pages 2
Bilateral trade is The exchange of goods between two countries.
Trade balance is the difference in value over a period of a country's imports and exports merchandise
Trade is at the heart of the growing links between Saudi Arabia and China, which centre on the crude oil and petrochemicals industries
China mainly exports to Saudi Arabia textile, clothing, light industry products, food like grain etc.
It imports from Saudi Arabia crude oil, chemical fertilizer and petro-chemical raw materials the import trends between china and Saudi Arabia in the recent years (2012,2013,2014) is while there was a decline in the imports of goods from Saudi Arabia in 012 and 013, the was a general rise in 2014 placing Saudi Arabia as the 10th largest import market for china (2.5% of china’s imports)
Exports trend: increased exports from 2012 to 2014, in 2012 at $18.5, in 2023 at $18.7 and at $20.6 in 2014 placing Saudi Arabia as one of the largest export markets for china.
In the recent years, the bilateral trade volume of sino-saudi has achieved steady growth since the establishment of diplomatic relations while the trade balance is reducing in comparision to the

China views Saudi Arabia with great importance for several reasons: (a) Saudi’s history as a reliable partner with all of its customers (b) saudi is the world’s largest petroleum exporter with capacity of 12 million barrels per day; (c) vast amount of oil which China desires, 17 percent of the world’s proven oil reserves are located in the Saudi Arabia (d) Saudi Arabia has the largest economy among the Arab countries and
- (e) China recognizes that Saudi Arabia, the leading member of the Organization of Petroleum Exporting Countries (OPEC), will play an increasingly vital role in supplying global energy in the future
In summary, the energy…...

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