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Greater Arab free trade Higher hydrocarbon prices boost surplus

Greater Arab free trade Higher hydrocarbon prices boost surplus

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8/26/13 ezproxy.clayton.edu:2088/abicomplete/printviewfile?accountid=10139 ezproxy.clayton.edu:2088/abicomplete/printviewfile?accountid=10139 1/2 Find a copy Full Text Indexing (details) Subject Free trade; International trade; Exports Back to previous page document 1 of 1 Greater Arab free trade: Higher hydrocarbon prices boost surplus Greater arab free trade: Higher hydrocarbon prices boost surplus. (2013, May 13). McClatchy - Tribune Business News. Retrieved from http://search.proquest.com/docview/1350087110?accountid=10139 Find It @ GALILEO http://www.galileo.usg.edu/sfx_cla1?url_ver=Z39.88- 2004&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&genre=unknown&sid=ProQ:ProQ%3Aabidateline&atitle=Greater+Arab+free+trade%3A+Higher+hydrocarbon+prices+boost+su +Tribune+Business+News&issn=&date=2013-05-13&volume=&issue=&spage=&au=&isbn=&jtitle=McClatchy+-+Tribune+Business+News&btitle=&rft_id=info:eric/ Abstract (summary) According to QNB Group, a key indicator for the success of Arab economic integration is the share of trade of countries within GAFTA with themselves relative to the total trade of these countries with the rest of the world. May 13--DOHA -- The trade of the 18 countries in the Greater Arab Free Trade Area (GAFTA) grew 11 percent in 2012 to $ 2.1 trillion, according to new IMF trade data. This built on two prior years of strong trade growth of over 20 percent. However, most of the increase is the result of higher hydrocarbon prices rather than increases in the real volume of trade, according to QNB Group. GAFTA has a high trade surplus versus the rest of the world with exports totaling $ 1.2 trillion in 2012 and imports $ 0.8 trillion. The trade surplus of $ 400 billion in 2012, or around 15 percent of GAFTA GDP, has grown steadily since 2009 when it contracted to $ 64 billion as oil prices averaged lower.
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