According to the China Customs, the bilateral trade volume between China and Saudi Arabia reached US$16.07 billion in 2005, up by 56.1 percent, among which China's export to Saudi Arabia was US$3.82 billion, up by 37.8 percent, while China's import from Saudi Arabia was US$12.25 billion, up by 62.8 percent. China had a deficit of US$8.43 billion. China mainly exported to Saudi Arabia new pneumatic tires of rubber; woven fabrics of synthetic filament yarn; women's or girls' suit, ensembles, jackets, blazers, dresses and skirts; men's or boys' suits, ensembles, jackets, blazers, and trousers; furniture and parts; air conditioning machines; footwear; clothing; trunks and handbags; and etc. China mainly imported from Saudi Arabia crude petroleum oil and crude oil obtained from bituminous minerals; acyclic alcohols and their halogenated, sulphonated, nitrated or nitrosated derivatives; polymers of ethylene in primary forms; petroleum gases; cyclic hydrocarbons; oil products; propylene, ethers, and either-alcohols in primary forms.
According to the Ministry of Commerce (hereinafter referred to as MOFCOM), the turnover of completed engineering contracts by Chinese companies in Saudi Arabia reached US$320 million in 2005, and the volume of the newly signed contracts was US$1.26 billion. The volume of completed labor service cooperation contracts was US$13.98 million, and that of the newly signed labor service cooperation contracts was US$10.78 million. By the end of 2005, the accumulated turnover of engineering contracts completed by Chinese companies in Saudi Arabia was US$630 million, with that of all the contracts signed US$2.14 billion, and the accumulated volume of the completed labor service contracts had reached US$97.86 million, with that of the total contracts signed US$110 million.
According to MOFCOM, three Chinese-funded non-financial firms were set up in Saudi Arabia in 2005, with a contractual investment of US$3.35 million. By the end of 2005, there had been a total of ten Chinese-funded non-financial firms set up in Saudi Arabia with a total contractual investment of US$10.11 million.
According to MOFCOM, Saudi Arabian investors invested in 16 projects in China in 2005, with a contractual investment of US$50.28 million and an actual utilization of US$9.37 million. By the end of 2005, Saudi Arabian investors had accumulatively invested in 61 FDI projects in China with a contractual volume of US$170 million and an actual utilization volume of US$77.48 million.
