GCC non-oil trade with US up 2.8pc in 2015, from previous
year
GCC non-oil trade with US reaches $41.7bn
UAE, June 15, 2016
The volume of non-oil trade between the GCC and the US, in the first nine months of 2015, amounted to $41.7 billion, a rise of 2.8 per cent as compared to the same period in 2014, which stood at $40.6 billion.
The total value of non-oil exports of the GCC countries to the US in the first nine months of 2015 amounted to $4.8 billion compared to $4 billion during the same period of 2014, an increase of 18.7 per cent, said a Wam report, citing Omani News Agency (ONA).
It said the GCC Statistical Centre (GCC Stat) annual report showed that the total merchandise imports of the GCC countries from the US in the first nine months of 2015 amounted to $36.9 billion, an increase of 1 per cent compared to the same period in 2014, which amounted to $36.5 billion. These merchandise imports accounted for 11.9 per cent of total imports of the GCC during the same period in 2015.
Additionally, the report noted that Saudi Arabia was ranked as the most important trading partner of the GCC countries for the volume of non-oil trade with the US for the first nine months of 2015, with $17.4 billion, which is 41.8 per cent of the total volume of non-oil trade of the GCC countries with the US over that period.
The UAE was the largest GCC exporting market to the US in the first nine months of 2015, where its exports reached $1.9 billion, or 40 per cent of the total GCC non-oil merchandise exports with the US, as against the same period last year.
The report indicated that the aluminium group and its products ranked first among the non-oil merchandise exports of the GCC countries to the US in the first nine months of 2015, where its contribution accounted for nearly 20.9 per cent of the total non-oil merchandise of GCC countries during the same period the previous year. The devices group and machine tools ranked first for merchandise imports from the US in the first nine months in 2015, amounting to $10.1 billion.
This merchandise group accounted for 27.4 per cent of the total imports of the GCC commodities from the US in the same period in 2015, added the report.
