Loading ...U.S. Goods Exports to the Arab World Dipped in 2015
Despite Mixed Forecast For 2016, Export Prospects Remain Promising
Washington, DC – According to new U.S. Government data analyzed by the National U.S.- Arab Chamber of Commerce (NUSACC), exports of U.S. goods to the Middle East and North Africa (MENA) region fell in 2015 to $67.4 billion from $71.4 billion in 2014, a decline of 5.6 percent. This is the first time since 2010 that sales of U.S. goods to the MENA region declined, largely reflecting the widespread impact of slumping oil prices.
David Hamod, President & CEO of NUSACC, acknowledged the challenging environment, but he remains optimistic over the long-term. “As governments in the region redouble their efforts to meet the needs of their citizens, Arab public and private sector leaders recognize that U.S. products and services are synonymous with quality and value,” Hamod said. “Infrastructure development continues to be a top priority throughout the region, and U.S. companies excel in this field. We are also seeing a surge in such service-oriented sectors as education, training, and health care.”
Hamod concluded, “Despite the challenges facing the region, America’s commitment to the Arab world remains rock solid.”
See full report here.