This is an increase of almost 20 percent over last year, propelling U.S. exports to the Middle East and North Africa (MENA) to an all-time high.
Total market demand in the Arab world is expected to grow 12 percent in 2010, to $796 billion. The top five Arab export markets for the United States in 2010 are slated to be the
United Arab Emirates ($22.23 billion),
Saudi Arabia ($17.04 billion),
Egypt ($6.13 billion),
Iraq ($5.47 billion), and
Qatar ($5.05 billion).
U.S.-Arab Trade Outlook: 2010 indicates that U.S. exports to the region are on track to more than double by the year 2015. Infrastructure build-out will continue to be the most significant driver behind foreign investment and exports to the region, particularly in the Gulf Cooperation Council (GCC) nations.
The countries of the Arabian Gulf are making huge investments in upstream and downstream energy projects, power generation, water and waste treatment, ports and airports, roads & rail, hospitals, and schools. Big-ticket projects like these also open doors for related U.S. service providers, including those offering such cross-border services as logistics, engineering, training, and a wide array of other professional services.
U.S.-Arab Trade Outlook: 2010 also highlights some of the region's key trends and sectors beyond infrastructure build-out, including investment in interconnectivity, consumer trends, education services, travel and hospitality services, Free Trade Agreements, and security & defense plans.
All 22 nations of the Arab world are profiled in the Chamber's report. For each country, the report offers three important tables:
1) Imports, exports, and GDP comparisons over a five-year period;
2) "Top Ten" export sectors in each nation;
3) "Sectors to Watch," which focuses on niche opportunities that are particularly attractive to small and medium-sized enterprises in the United States.
The Arab world is a high growth market of over 300 million consumers, and U.S.-Arab Trade Outlook: 2010 quantifies a broad recovery in consumer confidence over the past year.
The most upbeat consumers are in the GCC - in Qatar, the United Arab Emirates, and Saudi Arabia, respectively - and this consumer confidence is translating into increased purchases of U.S. goods and services.
Click here to view an electronic version of the U.S.-Arab Trade Outlook: 2010. Tony Harkén