United Arab Emirates
The UAE is a federation of seven emirates (Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al-Qaiwain, Fujairah, and Ras Al-Khaimah). The individual emirates founded the UAE in December 1971. Over the last 38 years, the UAE has developed into the second largest economy in the Arab world.
Despite possessing substantial petroleum reserves, the UAE has pursued free market, trade liberalizing policies to diversify its economy away from a dependence on fossil fuel. Rapid growth in the nonoil economy reduced oil's share of GDP from 60 percent in 1980 to 35.8 percent in nominal terms in 2007. The U.S. and UAE entered into a Trade and Investment Framework Agreement (TIFA) in 2004, which established a formal dialogue to promote increased trade and investment between the two countries.
U.S.-United Arab Emirates Trade Facts
United Arab Emirates is currently our 34th largest goods trading partner with $18.3 billion in total (two way) goods trade during 2011. Goods exports totaled $15.9 billion; Goods imports totaled $2.4 billion. The U.S. goods trade surplus with United Arab Emirates was $13.5 billion in 2011.
United Arab Emirates was the United States' 19th largest goods export market in 2011.
U.S. goods exports to United Arab Emirates in 2011 were $15.9 billion, up 36.2% ($4.2 billion) from 2010.
The top export categories (2-digit HS) in 2011 were: Aircraft ($3.6 billion), Machinery ($2.6 billion), Vehicles ($2.2 billion), Electrical Machinery ($1.4 billion), and Precious Stones and Metal (gold, diamonds and jewelry) ($1.3 billion).
U.S. exports of agricultural products to United Arab Emirates totaled $969 million in 2011. Leading categories include: tree nuts ($254 million), feeds and fodders ($171 million), and poultry meat ($85 million).
United Arab Emirates was the United States' 65th largest supplier of goods imports in 2011.
U.S. goods imports from United Arab Emirates totaled $2.4 billion in 2011, a 113% increase ($1.3 billion) from 2010.
The five largest import categories in 2011 were: Aluminum ($665 million), Special Other (returns) ($638 million), Mineral Fuel and Oil (crude) ($394 million), Iron and Steel Products ($198 million), and Precious Stones (diamonds) ($157 million).
U.S. imports of agricultural products from the United Arab Emirates were $21 million in 2011.
The U.S. goods trade surplus with United Arab Emirates was $13.5 billion in 2011, an 27.8% increase ($2.9 billion) over 2010.
Historical Trade Data
U.S. Goods Trade with United Arab Emirates (in billion of dollars)
U.S. foreign direct investment (FDI) in the United Arab Emirates (stock) was $4.3 billion in 2010 (latest data available), up 1.8% from 2009.
Reported U.S. direct investment in the United Arab Emirates is led by the wholesale trade, and manufacturing sectors.
United Arab Emirates FDI in the United States (stock) was $591 million in 2010 (latest data available), down 73.4% from 2009.
The distribution of United Arab Emirates FDI in the United States was not available.
*NOTE: No services trade data with United Arab Emirates is available.