Saudi Arabia Turns to China

China is Saudi Arabia's most significant trading partner and holds the distinction of being the world's largest purchaser of oil. Conversely, Saudi Arabia occupies a prominent role as China's primary trading partner in the Middle East and serves as the foremost global provider of crude oil. In 2021 alone, the total trade between Saudi Arabia and China reached a substantial $87.3 billion, highlighting the depth of their economic relationship. Notably, Saudi Arabia's trade volume with China has surpassed that with both the European Union and the United States since 2020, indicating a significant shift in its trade dynamics towards Asia.

 

Over the period spanning from 2001 to 2021, Saudi Arabia's trade with China has experienced exponential growth, surging by over 2000%. This remarkable increase stands in stark contrast to the comparatively modest 100% rise in its trade with the combined entities of the EU-27 and the U.S. This surge in trade between Saudi Arabia and China underscores the increasing interdependence between the two nations and the strategic importance of their economic partnership in the global arena.