U.S.-Arab Trade Moves Up

At a time of recession in the U.S., American exports to Arab countries of the Middle East and Africa are growing at a brisk rate. According to figures at the U.S. Department of Commerce, the exports in the first month of this year rose 27 percent over those in January, 1981.

This rise maintains the general trend established during 1981, when total exports to the Arab world of $16.5 billion went up by more than 24 percent over exports made during the previous year.

Top importer of U.S. goods and services during 1981 was Saudi Arabia, with $7.3 billion worth, up by $1.6 billion over 1981. In January, 1982, Saudi Arabia's imports amounted to $655 million, up by 29 percent on the corresponding month of 1981. Egypt was the second largest importer ($2.2 billion) last year, and the United Arab Emirates was third, with $1 billion.

Recent activity has included the following deals:

Morocco contracted to buy 21 General Motors diesel locomotives, at a cost of $20 million. It is receiving financing from the U.S. Export-Import Bank, which is lending $13 million at 10.75 percent, payable in 10 years, starting May 15, 1983.
Saudi Arabia gave Foster Wheeler a management and construction contract in connection with a petrochemical complex which the Saudi Basic Industries Corp. is building in partnership with Dow Chemical Saudi Arabia, a subsidiary of Dow Chemical Co. Details were not disclosed.