GCC trade with US slumps despite Saudi export growth

GCC trade with US slumps despite Saudi export growth | AGBI
Skip to content
Skip to Search
May 12, 2026
About us
Partner with AGBI
Login
|
Register
Skip navigation
Companies
Economic data
All GCC data
All Mena data
Bahrain
Egypt
Kuwait
Oman
Saudi Arabia
Turkey
Qatar
UAE
Saudi Arabia giga-projects
Giga-projects tracker
AlUla
Amaala
Diriyah
Jeddah Central
Neom
New Murabba
Qiddiya
The Red Sea
Roshn
Rua Al Madinah
Sectors
Aviation
Artificial Intelligence
Business of Sport
Construction
Cybersecurity
Defence
Economy
Energy
Entrepreneurs
Finance
Food & Drink
Gaming
Giga-projects
Health
Industry
Infrastructure
Logistics
Manufacturing
Markets
Oil & Gas
Real Estate
Retail
Sustainability
Tax
Tech
Telecoms
Tourism
Trade
Transport
Middle East
All Middle East
GCC
UAE
Saudi Arabia
Bahrain
Kuwait
Oman
Qatar
Dubai
Abu Dhabi
Turkey
Egypt
Jordan
Lebanon
Opinion
All Opinion
All Writers
Frank Kane
Hussain Al Alawi
Austyn Allison
Simon Chadwick
Lucy Chow
Andrew Cunningham
Chris Doyle
John Grant
Katy Holmes
Martin Keulertz
Matein Khalid
Scott Livermore
Alex Malouf
Robin Mills
Dr Nasser Saidi
Analysis
Interviews
Topics
Blockchain
Cryptocurrency
Donald Trump
Electric vehicles
Food security
Gitex 2025
Hydrogen
IPOs
Islamic finance
M&A
Neom
Opec
Red Sea Global
Saudi Vision 2030
Ukraine-Russia war
Water
Lifestyle
People
Work / Life
Entertainment
Arts
Education
World
Africa
Asia
Europe
North America
Latin America
About us
Partner with AGBI
Authors
Executive Team
Login
Register with AGBI
Finance
Energy
Construction
Transport
Tech
Sport
Opinion
Analysis
Economic Data
All sections
Analysis
Trade
GCC trade with US slumps despite Saudi export growth
By Valentina Pasquali
May 9, 2026, 6:46 AM
Licht Wolke/Alamy via Reuters
A container ship in the port of Brooklyn, New York. Many GCC exports to the US would have been en route before the war began
American exports to GCC down
Imports from Saudi and Oman rose
US maintains trade surplus
US exports to the six GCC countries – Saudi Arabia , the UAE , Qatar , Bahrain , Oman and Kuwait – dropped sharply in March after logistics bottlenecks constrained international commerce in the first full month of the US-Israeli war with Iran .
However, analysts have said Saudi Arabia recorded increasing sales to the US market due to the timing of the shipment of pre-war goods, higher energy prices and use of its Red Sea coast to bypass the Strait of Hormuz .
Bilateral trade with Bahrain, Kuwait and Qatar fell sharply month on month and year on year in March, according to the latest data from the US Census.
US exchanges to and from the UAE slid more gradually, the figures published this week showed.
“I don’t think it is a surprise that US exports to the region declined in March given the transportation issues with getting stuff into the Gulf,” said Tim Callen, a former International Monetary Fund official and now visiting fellow at the Arab Gulf States Institute in Washington.
US exports to Oman and Saudi Arabia fell, but imports from these two countries rose.
Saudi Arabia sold $1.4 billion of goods to the US market in March, almost double the same month last year and the highest level in two years.
Analysts said it was too early to know exactly what may be driving this trend, but offered a few hypotheses.
The lag between crude production, shipment and delivery could be factors, according to Callen.
“We know that Saudi Arabia shipped a lot of oil in February ahead of the war, so by the time this made it to US markets it would have been March,” he noted, citing Opec data showing that the kingdom’s output rose to nearly 11 million barrels per day in February from just over 10 million bpd in January.
Justin Alexander, the US-based director of Khalij Economics, agreed “timing differences” are critical.
Imports “will be recorded based on when shipments arrive in the US rather than when they depart the Gulf”, and current figures “largely reflect shipments initiated pre-war”, Alexander said.
“Overall, the data is a reminder that direct US-GCC [trade] is fairly small for both sides and the US continues to have a solid trade surplus with most of the GCC states,” he added.
Further reading:
Conflict pushes Omani-Saudi border trade to record levels
US-Gulf trade rose pre-war despite Trump tariffs
Trump’s Gulf trade gamble: the numbers don’t add up
The rapidly rising cost of energy products may also explain the bump, said Rachel Ziemba, a macrostrategy adviser in New York.
She pointed to Saudi Arabia’s receipt of nearly $1.2 billion for mineral fuels, the highest since April 2024, suggesting pricing, not just volume, could be making a difference.
Saudi Arabia may additionally be benefiting from its access to the Red Sea, which has allowed it to divert at least some exports away from Hormuz.
Oman enjoys the same ability because it overlooks the Arabian Sea, but does not seem to have taken as much advantage of this, except when it comes to fertilisers, Ziemba added.
Qatari and Saudi sales of fertiliser to the US in March were up year on year but fell from the previous month, according to a database maintained by the US Census.
Oman’s fertiliser exports quadrupled from March 2025 levels.
The sultanate’s sales to the US otherwise increased in March on a monthly and annual basis, but more gradually than those of Saudi Arabia.
US imports of aluminium from Bahrain declined slightly, while those from the UAE rose in March, likely another reflection of shipments that were at sea when the war broke out on February 28 but had not yet reached their American destinations.
Ziemba said this is unsustainable given the metal’s production shut-ins in the region .
Register: It’s easy and free
This content is available for registered members only . Register for your free account today for exclusive emails, special reports and event invitations.
Why sign up
Exclusive weekly email from our editor-in-chief
Personalised weekly emails for your preferred industry sectors
Access to the AGBI app
Prioritised access to live events
Register for free
Already registered? Sign in
Related content:
Iran-Israel conflict
Finance
Trade
Energy
NESR outlines bullish energy outlook after strong quarterly results
May 12, 2026
Transport
Salik’s revenue falls 3% with lower Dubai traffic in March
May 12, 2026
Analysis
Real Estate
War upends Saudi real estate push
May 12, 2026
Oil & Gas
Aramco expects oil woe until 2027 if no swift Hormuz resumption
May 11, 2026
Oil & Gas
World short nearly a billion barrels of oil, says Shell boss
May 11, 2026
Oil & Gas
Egypt raises fuel import budget to meet demand
May 11, 2026
Trending
NESR outlines bullish energy outlook after strong quarterly results
May 12, 2026
Talent squeeze and ‘death by pilot’ – UAE’s big AI challenges
May 12, 2026
Dubai Holding becomes Emaar’s largest stakeholder
May 12, 2026
Turkish inflation returns as food and energy costs rise
May 11, 2026
Dubai property sellers slashing millions off prices
May 11, 2026
Latest articles
ANALYSIS
Economy
Aramco’s swelling profits could bolster Saudi budget
6 hours ago
Utilities
Dewa profit doubles as revenue crosses $2bn
7 hours ago
Renewable Energy
Mubadala invests $325m in UK offshore wind farm
8 hours ago
Renewable Energy
Jordan signs $1bn deal for first green ammonia plant
9 hours ago
Real Estate
Oman launches $780m mountain-top villa project
11 hours ago
Real Estate
Dubai Holding becomes Emaar’s largest stakeholder
12 hours ago
Real Estate
Deyaar revenue rises 3% despite hospitality slump
13 hours ago
Energy
Saudi crude exports to China set for record low
13 hours ago
Retail
Talabat revenue rises 23%, supported by higher grocery sales
14 hours ago
Energy
Adnoc Gas opts for dividend despite revenue decline
14 hours ago
Video length:
06:29
INTERVIEW
Artificial Intelligence
Talent squeeze and ‘death by pilot’ – UAE’s big AI challenges
18 hours ago
Oil & Gas
Syria finalises exploration site with Chevron and Qatar
1 day ago
Sign up to our newsletter
Partner with AGBI
Contact us
United Arab Emirates
Saudi Arabia
Kuwait…

Text scraped from the landing page for research purposes. © respective owners. This text is sourced from the advertiser's public landing page; for removal, contact dmca@luba.media.