The Chinese Ministry of Commerce revealed in a statement issued on its website that the value of trade between China and Arab countries reached 398.1 billion US dollars in 2023, a decrease of 7.7 percent year on year.
The value of China's exports to Arab countries amounted to $181.3 billion last year, an increase of 4.7 percent on an annual basis, while the value of imports from Arab countries amounted to $216.8 billion, a decrease of 16 percent on an annual basis, according to the Chinese Xinhu Agency.
Chinese companies signed contracts worth $47.22 billion regarding contracting projects in Arab countries in 2023, an increase of 28.8 percent year-on-year, while they completed work worth $27.69 billion, an increase of 9.5 percent year-on-year.
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