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U.S. does $220B in trade with Muslim countries

  • January 31, 2017
  • Business
Trump: Travel anathema operative out really nicely

President Trump’s transport anathema on a adults of 7 Muslim-majority countries has combined difficulty and regard opposite a Middle East and tools of Asia.

The Organization of Islamic Cooperation, that represents dozens of Muslim countries, voiced “grave concern,” warning that it would “embolden a radical narratives of extremists.” The Arab League slammed it as unjustified.

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Only one of a countries on Trump’s list — Iraq — has a poignant trading relationship with America. It is a sixth biggest source of U.S. oil imports.

But a anathema could repairs wider U.S. interests. There are around 47 countries and territories in a universe where Islam is a widespread religion. Total U.S. trade in products with those countries surfaced $220 billion in 2015, according to a U.S. Census Bureau. In a initial 11 months of 2016, a value of trade reached $194 billion.

Put another way, a U.S. does roughly 6% of a sum trade with Muslim-majority countries.

The bulk of a trade in products — 94% — was with only 15 countries, including Malaysia, Saudi Arabia, a United Arab Emirates, Turkey, Indonesia and Iraq.

Here are a U.S.’ tip trade partners in a Muslim world.

Malaysia

The U.S. runs a $22.9 billion trade necessity with Malaysia.

American firms including Exxon Mobil (XOM), Chevron (CVX), ConocoPhillips (COP), Murphy Oil (MUR) and Dow Chemical (DOW) have invested billions in a nation yet subsidiaries and in contracts with internal companies.

Other prohibited areas embody financial services and manufacturing.

The Bureau of Economic Analysis pronounced U.S. companies invested scarcely $14 billion in Malaysia in 2015.

Related: These are America’s biggest trade partners

Saudi Arabia

us muslim trade stat 2

Saudi Arabia and a U.S. traded over $31 billion value of products in a initial 11 months of 2016. American companies exported cars, industrial machinery, construction equipment, polite aircraft, invulnerability systems, IT and health caring products to a Kingdom.

In return, a U.S alien 386 million barrels of oil from Saudi Arabia in 2015, according to a U.S. Energy Information Administration. The nation is a second biggest source of unfamiliar oil into a U.S.

American firms have invested $10 billion in a country, according to a BEA. General Electric (GE) alone has invested $1 billion.

Related: Tech employees disorder after immigration order

UAE

The U.S. and a UAE traded $23.3 billion value of products in a initial 11 months of 2016.

It’s a singular largest marketplace for U.S. exports in a Middle East, and American companies have invested $15.6 billion into a country.

More than 1,000 American firms work in a country.

Boeing’s Middle East domicile is in Dubai. It has partnered with internal investment association Mubadala to make tools for a 777 and 787 Dreamliner aircraft. The deal, announced in 2013, is value $2.3 billion over 10 years.

Lockheed Martin (LMT), GE and ExxonMobil (XOM) also have long-term business partnerships in a country.

Indonesia

Indonesia is home to a world’s largest Muslim population.

Trade in products between a nation and a U.S. reached $23 billion in a initial 11 months of 2016.

Indonesia, that is a member of a G20 organisation of world’s biggest economies, has captivated $13.5 billion in American investments, especially in a mining sector.

General Motors (GM) has a plant nearby a collateral Jakarta. Cargill also has a vital participation in a country.

Related: These companies wouldn’t exist if it weren’t for immigrants

Turkey

Trade between a U.S. and Turkey grew to $17.4 billion in 2015 from $10.8 billion in 2009.

U.S. companies have invested $3.6 billion in Turkey in new years, led by a banking and production sectors.

Ford, General Electric and Unilever (UL) all do business in a country. With over 10,600 staff, Ford (F) is a biggest employer in a Turkish automotive industry.

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