Chart of the Day: SCO's share in global trade rises

The influence of Shanghai Cooperation Organization (SCO) on global trade has been increasing since its establishment in 2001 as its share of global trade rose from 5.4 percent in 2001 to 17.5 percent in 2020, according to China's customs data.

The global trade value of SCO member states has grown from just $667 billion, not including India and Pakistan, in 2001 to a remarkable $6.06 trillion in 2020. The overall trend of SCO global trade has shown steady growth, despite fluctuation in some years.

Chart of the Day: SCO's share in global trade rises

Covering 25 percent of the world's land area, the eight member states of the SCO – China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, India and Pakistan – are home to 41 percent of the world's population and contribute 24 percent to the world's GDP.

China's foreign trade with other SCO member states has soared 19.2 times from $12.15 billion in 2001 to $245.32 billion in 2020. The SCO demonstration area in Qingdao, east China's Shandong Province, saw its trade with SCO countries surge to 8.1 billion yuan (about $1.1 billion) in 2022 from 850 million yuan in 2019.

The 23rd meeting of the Council of Heads of State of the SCO will be held on July 4.

Data editor: Yao Nian

Graphics designer: Mukesh Mohanan

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