Trade between the United States and the United Arab Emirates reached a record high of $18.34 billion in 2011. Increased trade and investment across several key economic sectors including manufacturing, infrastructure, and technology drove the rise in last year?s economic activity.? According to the newly released 2011 US export statistics, the UAE remains a key export destination and the single largest export market for American goods in the Middle East North Africa (MENA) region.
In total, the US exported a record $15.89 billion worth of goods to the UAE in 2011; representing an impressive 26% increase compared to 2010.? The previous record of $14.4 billion in US exports to the UAE predates the global economic recession and occurred in 2008. For its part, the UAE exported $2.44 billion to the US, more than doubling its 2010 export numbers to the states.
?These record-breaking statistics clearly illustrate America?s role as a strategic and commercial partner to the UAE ? a key export destination and gateway to important global markets,? said Danny Sebright, President of the US-UAE Business Council. ?These numbers provide clear evidence that the US-UAE trade relationship is thriving and remains a key pillar supporting strong diplomatic ties between our two countries.?
The statistics, released by the Foreign Trade Division of the US Census Bureau on February 10th, provide empirical evidence that total US exports have increased significantly in the last year in response to government efforts to lift export numbers and the modest resurgence of American industry in the face of continued global economic uncertainty.
With its business-friendly regulations, strong investment incentives, economic diversification ambitions, and ideal geographic location, the UAE remains a key export market for US companies.
About the US-UAE?Business Council?
The US-UAE Business Council is a progressive business advocacy organisation solely committed to advancing the trade and commercial relationship between the United States and United Arab Emirates.
For more information on the US-UAE Business Council, please visit:?www.usuaebusiness.org