U.S. Exports to the Arab World Jump By 12 Percent to $65.3 Billion
The U.S. Census Bureau last month released data that U.S. exports to the Middle East and North Africa (MENA) jumped 12 percent to $65.3 billion in 2023, marking the consecutive increase in U.S. exports since COVID. While US exporters are dealing with the challenges in the region, they appear to be somewhat offset by the economic growth of MENA.
Several initiatives such as global infrastructure development, security, long-term food security for the MENA region, and US trade policies focused on renewable energy, health care, and technology have recently been launched to foster growth and create a favorable environment for both regions’ economies.
While US exports are strong, they are threatened by other countries such as China, whose exports to the United Arab Emirates increased to $55.7 billion last year, with their strengths in the fields of infrastructure, energy, and technology.
To read more about how the economic growth of the MENA region is being fostered by US exports and policies, please see: U.S. Exports to the Arab World Jump By 12 Percent to $65.3 Billion