Volume of trade exchange between the Gulf Cooperation Council (GCC) countries reached $120 billion

The volume of trade exchange between the Gulf Cooperation Council (GCC) countries and the US reached nearly $120 billion in 2024, confirming the strength of economic and trade relations between the two sides.

Data issued by the Statistical Center of the Cooperation Council for the Arab States of the Gulf revealed that the volume of trade exchange between the GCC countries and the US reached $93.6 billion by the end of 2023.

The data indicated that exports from the Gulf countries reached $36.1 billion, while imports reached $57.5 billion, reflecting the continued strength of economic and trade relations between the two sides. According to the data, oil and its products were the most important exported goods to the United States in 2023, accounting for 44.9% of the total, followed by gold and precious stones at 9.1%, aluminum and its products at 8.6%, books, newspapers, and printed materials at 6.4%, fertilizers at 4.4%, and other goods at 26.6%. Regarding the most important imported goods from the United States to the Gulf in 2023, machinery and mechanical equipment topped the list, accounting for 28%, followed by cars, vehicles, and their parts at 17%, aircraft and their parts at 7%, electrical machinery and appliances at 6.3%, and precision tools and equipment at 5.7%. The remaining imported goods accounted for 36%. The US President’s visit to the Kingdom in May 2025 aimed to strengthen strategic relations between the Gulf Cooperation Council (GCC) countries and the United States, especially in light of the significant growth in trade between the two sides.

The Gulf-US Summit was held today, aiming to strengthen political, economic, and security partnerships between the Gulf countries and the United States.

GCC-US relations have witnessed remarkable development, with the GCC countries and the United States holding five joint summits, in addition to a number of ministerial meetings aimed at governing efforts to develop the strategic partnership with the United States through the formation of 10 working groups and joint teams dedicated to enhancing cooperation in various areas of shared priority.

The strategic partnership between the GCC countries and the United States is based on solid foundations of historical ties and shared interests, as well as a commitment by both sides to maintaining the security and stability of the region.