WASHINGTON (Reuters) – U.S. exports to Arab nations are forecast to reach a record $45 billion in 2007, shattering the previous high set last year, according to a report released on Thursday
High oil prices boosted the Arab world’s buying power at the same time a declining U.S. dollar made American goods more competitive, according to the report, which was prepared by the Institute for Research: Middle Eastern Policy.
Those factors helped U.S. exports to the Arab world grow rapidly, despite widespread criticism of U.S. policies in Iraq and frequent calls to boycott American products.
Despite the forecast for U.S. exports to the region to expand nearly 30 percent this year, the Iraq war is just one of many “storm clouds” on the horizon the report said.
Washington Post report (HTML) Full Trade Report (PDF)