Arab-American trade: performance and prospects. [With oil group and non-oil group countries]
Twenty Arab countries were examined by dividing them into two groups depending on the relative share of oil exports (excluding re-exports) in total exports as an annual average for 1972-1978, with a demarcation line of 50%. The oil group (OG) comprises eight countries while the non-oil group covers twelve countries. The level of Arab exports and imports increased during the period between 1972 and 1978. Oil was the dominant export but NOG countries diversified with exports of cotton and phosphate. The balance of trade of the Arab countries was positive during this period despite the persistent, and increasing, deficit of the NOG countries, Combined Arab-American trade increased substantially during the 1970's but particularly after 1974. Oil has been the major factor affecting the size and pattern of Arab-American trade. Export earnings of the OG increased while import capacity of the NOG, supported by increased financial aid received from the OG, also increased. The American balance of trade will continue to be closely linked to Arab influence. (SAC)
- OSTI ID:
- 5355729
- Journal Information:
- OAPEC News Bull.; (United States), Vol. 6:3
- Country of Publication:
- United States
- Language:
- English
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