US-UAE Trade hits US $24.81 bn in 2012

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Jebel Ali Port in Dubai. The total UAE-US trade hit a record $24.81bn in trade in 2012, a significant increase of $6.47bn over 2011's total trade number.
Jebel Ali Port in Dubai, which is a major trade hub in the Middle East. The total UAE-US trade hit a record $24.81bn in trade in 2012, a significant increase of $6.47bn over 2011’s total trade number. Image courtesy-DPWorld

The total UAE-US trade hit a record $24.81bn in trade in 2012, a significant increase of $6.47bn over 2011’s total trade number, according to statistics released today from the US Census Bureau’s Foreign Trade Division.

UAE’s total import from the US in 2012 was $22.57bn in 2012, making UAE the United States’ top export destination in the entire Middle East North Africa (MENA) region for the fourth year in a row. Meanwhile, UAE’s exports to the US remained strong at over $2.24bn.

“The record-breaking U.S. export figures released today by the government serve as both validation and justification for the work our organisation and our partners do to promote the advancement of the US-UAE trade and commercial relationship,” said Danny Sebright, president of the US-UAE Business Council.

“The UAE is America’s top trading partner in the Middle East and North Africa (MENA) region, supporting significant economic development and job creation in both countries.”

Transportation equipment was the top US industrial category sending exports to the UAE in 2012 ($10.51bn). Commercial aviation-related exports served as the largest sub-group of transportation exports with $6.44bn, mainly due to the new flight routes by Emirates Airline and Etihad Airways — and regular aircraft deliveries to the UAE last year.

Imports of Motor vehicles ($2.72bn), ships and boats ($42.2m), and railroad rolling stock and equipment ($3.54m) also saw significant increase over the past year.

Other top US exports to the UAE in 2012 were computers and electronics ($2.58bn), non-electric machinery ($1.86bn), fabricated metal products (1.2bn), primary metal manufacturing ($1.11bn), chemicals ($952.1m), and food products (466m).

“Last year’s trade numbers are a promising indicator that the US Administration’s efforts to boost US exports under the National Export Initiative (NEI) and the UAE government’s plans to diversify and develop its economy are headed in the right direction,” said Sebright.

“Further, trade and commerce is growing rapidly as a key and increasingly significant element of the overall US-UAE relationship.”

According to a statement released today by the US Department of Commerce, the US reached record exports numbers with over 70 of its trading partners worldwide and $2.2 trillion overall in 2012, indicating a successful year for US exports globally.

The UAE was one of the 70 countries and remains a key trading partner to the US in the MENA region.

In terms of the statistics state-wise, Top 10 US exporting States to the UAE in 2012:

1. Washington- $5.059 billion
2. Texas- $2.191 billion
3. California- $1.81 billion
4. Florida- $1.7 billion
5. New York- $1.64 billion
6. District of Columbia (D.C.)- $1.62 billion
7. Connecticut- $1.1. billion
8. Michigan- $756.43 million
9. New Jersey- $727.75 million
10. Tennessee- $560.9 million

 

 

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