Trade between the Gulf and the United States reached $47.8 billion inthe second quarter,jumping 60.1 percent on the same period last year,the Dubai Chamber of Commerce and Industry said on Monday.The Dubai Chamber said in a report that imports from the US to the six Gulf Cooperation Council (GCC) members rose to $32.2 billion during the period, while exports to the US from the GCC climbed to $15.8 billion.
Trade was driven by Saudi Arabia, the region’s largest economy, which received 83.3 percent of imports from the US and was responsible for 34.4 percent of exports – accounting for 67 percent of total trade with the US during the period, the chamber said.
It said the UAE was the biggest recipient of imports from the US, accounting for 44 percent of total imports into the GCC during the period.
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