U.S. goods exports to Arab world grow 17.3% in 2012
- United Arab Emirates: Saturday, February 09 - 2013 at 10:21
- PRESS RELEASE
According to new data analyzed by the National U.S.-Arab Chamber of Commerce (NUSACC), 2012 was an excellent year for U.S. exports to the Arab world.
By comparison, total U.S. merchandise exports to the world increased by only 4.5%, from $1.48 trillion in 2011 to $1.55 trillion, in 2012.
"Despite the challenges of the Arab Spring, U.S. exports are going from strength to strength," noted David Hamod, President & CEO of the National U.S.-Arab Chamber of Commerce.
"Economic drivers in the Middle East and North Africa region -- energy, infrastructure development (including railways), defense sales, consumer demand, and a growing commitment to knowledge transfer -- are leading to unprecedented sales for U.S. companies."
The findings are consistent with the Chamber's research that shows U.S. exports of goods and services to the Arab world growing to $167bn by 2015. NUSACC's 2015 Outlook -- which explores trade in goods and services through the year 2015 -- will be released very soon.
The largest category of goods exported was Transportation Equipment, constituting $26.04bn (39.5%) of total U.S. goods shipped to the Arab world. Other "Top Five" export sectors included Non-Electrical Machinery ($8.53bn, 12.94%), Computer & Electronic Products ($5.47bn, 8.29%), Chemicals ($3.89bn, 5.91%), and Food & Kindred Products ($3.33bn, 5.06%).
As in previous years, importing countries were led by Gulf Cooperation Council (GCC) nations, particularly the United Arab Emirates and Saudi Arabia, which together accounted for more than half of all U.S. merchandise exports to the Arab world (61.74%).
Egypt retained its position as the third largest Arab market for U.S. goods, despite a drop in sales of nearly 12%, probably attributable to political unrest in that nation. Qatar and Kuwait filled out the top five importing nations.
The GCC continues to drive U.S. exports to the region, accounting for 75.7% of total sales of goods to the 22 countries of the Arab world.
In 2012, the United Arab Emirates was the top U.S. export partner in the Arab world, importing $22.57bn in goods from the United States, a 41.9% increase over 2011. The top three import sectors were Transportation Equipment ($10.51bn), Computer & Electronic Products ($2.58bn), and Non-Electrical Machinery ($1.86bn).
Saudi Arabia was the second largest market for U.S. goods, importing $18.12bn in 2012, a 31% increase since 2011 data were made available. Top import sectors included Transportation Equipment ($7.69bn), Non-Electrical Machinery ($3.29bn), and Chemicals ($1.21bn).
Exports to Egypt, the third largest Arab import market for U.S. goods, declined from $6.22bn in 2011 to $5.49bn in 2012. This represents an 11.8% decrease, presumably attributable to unrest in that nation. Top imports included Agricultural Products ($1.12bn), Transportation Equipment ($743m), and Non-Electrical Machinery ($732m).
Qatar moved up to become the fourth largest Arab market for U.S. goods, with imports totaling over $3.58bn in 2012, a 27.8% increase over 2011. The top three sectors were Transportation Equipment ($2.35bn), Non-Electrical Machinery ($342m), and Computer & Electronic Products ($168m). Qatar is hosting the FIFA World Cup in 2022, and a number of infrastructure megaprojects are now underway.
Kuwait moved up one position to round out the "Top Five Arab Markets" for 2012, despite a 1.6% decrease in goods imports from the USA. With total imports from the U.S. reaching $2.68bn in 2012, Kuwait's top three import sectors included Transportation Equipment ($1.24bn), Non-Electrical Machinery ($274m), and Computer & Electronic Products ($185m).
Other "Top Ten Export Partners" included Morocco ($2.26bn, down 20% from 2011), Iraq ($2.04bn, down 15.4% from 2011), Oman ($1.75bn, up 21.8% from 2011), Jordan ($1.71bn, up 17.7% from 2011), and Algeria ($1.36bn, down 14.6% from 2011).
In 2012, the "Top Ten" U.S. states exporting to the Arab world included Texas ($10.56bn, up 4%), Washington ($8.03bn, up 48.3%), California ($5.26bn, up 32.6%), Louisiana ($3.51bn, down 22.4%), New York ($3.43bn, up 6.5%), Michigan ($3.43bn, up 51.4%), Florida ($2.96bn, up 30.4%), Georgia ($2.4bn, down 1.1%), Maryland ($2.07bn, up 47.66%), and New Jersey ($2.01bn, down 4.2%).
Full data for each of the 22 Arab countries and each of the 50 U.S. states will be available on the NUSACC website in early March. To review preliminary data, click here to see a ranking of the 22 countries of the Arab world by sales volumes, by percentage of change from 2011 to 2012, and alphabetized by country.
The National U.S.-Arab Chamber of Commerce, widely regarded as the voice of American business in the Arab world, is in touch with business communities across the United States and serves as the U.S. point of contact for the national chambers of commerce in the 22 Arab nations. On a daily basis, NUSACC works closely with leaders throughout the Arab world, as well as high-level decision makers in the U.S. business community, public policy research centers, multilateral institutions, nongovernmental organizations, media, and the U.S. Government.
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