US-Kuwaiti trade exchange blossoms to $15.7bn in 2012

The US-Kuwait trade exchange has swelled from USD 10.5 billion in 2011 to USD 15.7 billion in 2012, up 50 percent, announced the Senior Commercial Officer at the US Embassy in Kuwait Dao M. Le. In a press conference held here Saturday in preparation for the launch of "Discover America Festival", slated for June 27, Le pointed out that the US exports to Kuwait in 2012 amounted to USD 2.7 billion compared with imports from Kuwait at the value of USD 13 billion. Vehicles have the lion share in the US exports to Kuwait, nearly 46.1 percent, followed by machines with 15.6 percent share. Then electricity and healthcare equipment with 5.6 percent and 4.5 percent shares respectively, Le said. He added that Kuwait now is the 54th largest US export market in the world, with 0.17 percent share of the total US exports and the 5th largest US export market in the Arab World. On the other hand, the US official said that Kuwait is the 29th biggest exporting country to the United States, with 0.52 percent of the total US imports. Petroleum products make up 97.7 percent of Kuwait exports to the US, followed by fertilizers 2.1 percent. He touted the strong and special US-Kuwaiti ties as one of the best in the region. Le added that the US is looking forward toward more bilateral cooperation and partnership at all levels and in different domains. Signaling positive trends and developments in the bilateral economic relationship, the US official cited a surging demand from Kuwaitis for health care and tourism in the United States. The US Embassy in Kuwait processed nearly 40,000 visas in 2012, the largest volume ever in a decade, he said. He also revealed that the US City of Los Angeles has become one of the World's top ten travel destinations for Kuwaiti tourists. Le shed lights on the remarkable growth in the number of student visas issued for Kuwaitis in the past years. As for healthcare services, he noted the US hospitals receive the second biggest number of Kuwaiti patients who are sent for medical treatment abroad, with nearly 25 percent share or about 150-200 patients every month. With regard to "Discover America Festival", Le pointed out that the five-day event is meant to acquaint Kuwaiti nationals and residents with the US education, health care and tourism services. Over 90 American educational, healthcare and travel companies and institutions will take part in the event, he said.