Arab exports rise to $ 164.4 billion

The value of Arab exports rose to $ 164.4 billion in 1999 compared to $ 137.7 billion the previous year and the share of these exports in the international exports rose by three percent compared to 2.5 percent in the same period.

Kuwaiti news agency KUNA says quoting the annual report of the Arab Economic Union Council Arab imports reached $ 153.6 billion in 1999, approximately the same value of the year before, while the share of Arab imports in international imports fell to 2.7% compared to 2.8% in 1998.

Meanwhile, Arab states' trade with European union states dropped to 26.9% last year, in contrast with 27.1% in 1998 and Arab exports to the US from 10.4% to 9.9% the same period.

Figures also showed that exports of Arab states to southeastern Asian states climbed to 12% compared to 11%, due to the economic recovery in these countries, following the economic crisis that had prevailed over the past three years.

Arabs' imports from the EU states rose by 38.6%, while imports from the US rose from 12.9% in 1998 to 13.1% in 1999. The value of the inter-Arab trade increased by 3.9% in 1999.