Sunday 27 May 2018

US exports to UAE hit $12bn

Washington, May 29, 2010

The US goods exports to the UAE surged a record 237 per cent from $3.6 billion in 2002 to $12.1 billion in 2009 despite the global crisis, said a report.

The bilateral trade between the remained robust with the US goods trade surplus reaching $10.6 billion in 2009, the Times of India reported, citing the recent US-UAE Business Council report.

This is the fourth largest bilateral American surplus with any country, the report added.

The council said the trade to UAE witnessed a massive surge compared to a 52 per cent hike in the same period in exports to other countries

'The Emirati economy continued to outperform most other nations, powered largely by increased infrastructure spending, real estate development, investments to expand oil production and growth of government-linked companies in areas including technology and alternative energy,' the report added.

The '2010 US-UAE Trade and Investment Relationship' report was authored by Michael Moore, professor of Economics and International Affairs, of George Washington University.

It emphasizes the growing foreign direct investment (FDI) opportunities in both the US and the UAE and focuses on the open commercial and strategic co-operation between the two countries.

Tags: UAE | US exports | Report | Business Council |

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