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18 May 2024

US-UAE trade grows 8.5% to record Dh98.7bn in 2013

By Waheed Abbas

UAE remained top export destination of the US in Mena region for the 5th consecutive year in 2013 while the total bilateral trade rose by 8.5 per cent last year.

According to the US Census Bureau’s Foreign Trade Division figures released on Thursday, US-UAE trade reached record $26.9 billion (Dh98.7 billion) in 2013 from $24.8 billion in the previous year. US exports to UAE jumped 9.1 per cent to hit record $24.61 billion (Dh90.3 billion) while UAE exports to US remained stagnant at $2.29 billion (Dh8.4 billion) last year.

March 2013 saw the highest monthly US exports at $3 billion (Dh11 billion) – a jump of 43.75 per cent over the same month in the previous year.

Transportation equipment remained the largest export segment from US to the UAE for another year in 2013.

The US Census Bureau’s Foreign Trade Division said transportation equipment was the largest subset of US exports to the UAE at $9.4 billion in 2013, 38 per cent of total exports. Other top US export sectors included computers and electronics ($3.9 billion), non-electrical machinery ($1.88 billion), primary metal manufacturing ($1.83 billion), fabricated metal products ($1.58 billion), chemicals ($1.01 billion) and agricultural products ($708.9 million).

Despite drop in exports to the UAE, Washington was the largest American state to export goods to emirate. Washington exports to UAE dropped 20.3 per cent to $4 billion (Dh14.8 billion), followed by Texas at $2.69 billion, Columbia at $2.25 billion, Florida at $2.21 billion, New York at $2bn, California at $1.64bn, Connecticut at $1.22bn, New Jersey at $929.5 million, Georgia at $789.5m and Ohio at $680.4m. Ohio recorded highest export growth of 46.6 per cent among the top 10 US states in 2013.

Saudi Arabia was the second largest export destination of the US goods in the region with total exports of $19 billion (Dh 69.7 billion) in 2013, India at $21.88 billion (Dh80.3 billion), Turkey at $17.1 billion (Dh62.7 billion) and Egypt at $5.22 (Dh19.15 billion).