Disclaimer: The information provided on the Timber Exchange Market Data Hub is sourced from a variety of publicly available data sources and confidential sources that have not been independently verified. Timber Exchange is not responsible for any expenses, damages, losses, or costs incurred as a result of using or relying on the information provided on this site. By using the Timber Exchange Market Data Hub, you agree to use the information at your own risk and acknowledge that any decisions made based on the information provided are done so solely at your own risk.
Saudi Arabia inked 34 investments agreements with China, worsening relations with America
Posted on December 12, 2022 |
Saudi Arabia and China signed 34 mutual agreements, deepening relations between the two countries but their agreements have grown the separation between traditional allies Saudi Arabia and the United States.
At present, China is Saudi Arabia's biggest trading partner, with a mutual business which is worth $87.3 billion in 2021.
Chinese exports to Saudi Arabia reached $30.3 billion, while China's imports from the kingdom were $57 billion.
Saudi Arabia is China's top oil supplier which accounts for 18% of Beijing's total crude oil purchases, with imports reaching 73.54 million tonnes (1.77 million barrels a day) in the first 10 months of 2022.