The Middle East has seen an increasing share of global GDP, rising from 4.6% in 2001 to 5.3% in 2023, reflecting its growing economic significance. The region's economy, characterized by its "oil-rich, water-poor" resource endowment, relies heavily on the secondary and tertiary sectors, with manufacturing contributing less to GDP. Amid the global push for green and low-carbon economies, many Middle Eastern countries are pursuing economic diversification to mitigate the impact of climate change.
Trade and investment relations between the Middle East and China have intensified in recent years. In 2023, bilateral trade reached $477.44 billion, a 24.7-fold increase from 2001, despite a slight decrease from the previous year. China's exports to the region are dominated by electronic and electrical equipment, while oil, gas, and minerals account for over 80% of its imports. Chinese investments focus on infrastructure, engineering, and energy, with the UAE being a key destination. The Belt and Road Initiative, launched by China in 2013, has further strengthened economic ties, aligning with many Middle Eastern countries' development strategies and enhancing bilateral cooperation.
