China overtakes West as the Gulf’s largest trading partner
China has surpassed the West to become the Gulf region’s largest trading partner.
Gulf-China trade rose 14.2% to $257 billion in 2024, edging past Gulf’s combined trade with Western economies – comprising of the US, UK and the Eurozone - for the first time, according to a report published by think tank Asia House.
That came as trade flows between the Gulf region and the West dipped around 4% to reach $256 billion.
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