Exports to the United States from Kuwait in 2005 rose to some $4.3 billion, an increase of more by one third as compared to the previous year, according to the 2006 National Trade Estimate Report on Foreign Trade Barriers, an annual trade report released on Friday by the US Congress.
An increase of over 34 percent was recorded for 2005 as compared to 2004, while Kuwaiti exports were 2.4-billion dollars more to the United States than were its imports in 2005.
The report also stated that the US trade deficit with Kuwait was nearly 650-million dollars more than in 2004, according to KUNA.
Kuwait stands as the 47th largest export market for US goods, as imports from the United States increased to 2-billion dollars, as well as an increase in exports reported.
Kuwait and the United States signed in 2004 a bilateral Trade and Investment Framework Agreement (TIFA), a step towards a Free Trade Agreement (FTA) in the future.
