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TOP ALLIES: On the US-GCC business relationship
Separated by thousands of miles, countries in the Gulf region have been successful in strengthening trade relations with economic powerhouse, the United States, says Mas Meghji
May 22, 2012 2:27 by kippreport
Texas remained the top state exporter in 2011, responsible for $3.1 billion, or 22.4 percent, of the country’s exports to Saudi Arabia. Texas was followed by Michigan, California, South Carolina, and New York as the top five states exporting to Saudi Arabia. Combined, these states exported 46.3 percent of all goods and services to Saudi Arabia in 2011. Exports from New Hampshire and Idaho grew the largest year-on-year, increasing by 189.3 percent and 184.3 percent, respectively.
The US foreign trade figures look a bit skewed for Qatar. In 2011, the US-Qatar trade stood at a little more than $4 billion, which included US exports worth $2.79 billion and imports from Qatar worth $1.23 billion. In 2010, the overall trade figure was $3.6 billion, US exports being $3.15 billion and imports were $466.4 million. Compared with 2010, US-Qatar trade increased by 11.1 percent last year. While US exports to Qatar decreased by 11.4 percent in 2011, imports increased by 163 percent.
For Bahrain, overall trade with the United States stood at $1.73 billion in 2011, while this figure was $1.66 billion in 2010 – an increase of 4.2 percent. For Kuwait, overall foreign trade with the US in 2011 was $10.5 billion, while it was $8.1 billion in 2010 – marking an increase of about 25 percent. Lastly, for Oman, the trade volume was $3.64bn in 2011 and $1.87bn in 2010 – a rise of 94.6 percent.