Statistics
Annual Report: No. 18 Kuwait- Embracing Mideast opportunities
July 6th, 2006
Imports dominate trade with oil-rich Kuwait, but Houston companies are finding new export opportunities.
When it comes to Houston’s trade with Kuwait, it all boils down to oil.
Some $1.9 billion-worth of Kuwaiti crude flowed into the Houston-Galveston Customs District in 2005 – more than half of all Kuwaiti crude shipped to the United States. In 2005, the United States imported $3.7 billion in crude oil from the Middle Eastern nation.
Fueled by rising crude prices on the world market, the value of Kuwaiti oil coming into greater Houston rose 35 percent in 2005. No Kuwaiti refined oil came through Houston in 2004, but $204 million-worth entered in 2005.
In 2005, Houston exported almost $239 million in goods to Kuwait, a 7.3 percent jump from 2004. Exports were linked to the construction and oil industries, including $49 million in machinery parts, a 74 percent gain, and $12 million in tubes and pipes, up 77 percent.
Houston firms like Willbros Group, which helped rebuild flow lines and wellheads after Desert Storm, continue to monitor opportunities in Kuwait. The Houston office of engineering and construction firm Fluor’s is working on front-end engineering and design services for Kuwait National Petroleum Co.’s refinery in Shuaiba. It is slated for completion in 2009.
More opportunities may be ahead. Kuwait in late May announced plans to spend more than $65 billion by 2020 to develop its oil industry. The project includes increasing production capacity and building petrochemical plants with foreign partners. The country also plans to beef up its transportation infrastructure.
Houston likely to be No. 4 Customs district for 2006 (01/25/2007)
Houston exports see notable increase in third quarter (12/11/2006)
Semi-annual report: Houston growth at faster clip than most (09/08/2006)
Here comes China! Imports rise 85%, catapault it to No. 3 overall (07/07/2006)
Annual Report: No. 21 Angola- Mutual benefits (07/06/2006)
Annual Report: No. 20 Japan- Houston woos and wins Japan (07/06/2006)
Annual Report: N0. 19 Norway- Symbiotic relationship (07/06/2006)
Annual Report: No. 18 Kuwait- Embracing Mideast opportunities (07/06/2006)
Annual Report: No. 2 Venezuela - Beyond the politicians (07/06/2006)
Annual Report: No. 17 Italy- From leather to nuts (07/06/2006)
Annual Report: No. 16 France- Outpaced by oil-rich nations (07/06/2006)
Annual Report: No. 3 Nigeria - Oil lubricates market (07/06/2006)
Annual Report: No. 15 Colombia- Coffee perks up trade (07/06/2006)
Annual Report: No. 14 Belgium- Scoring with petrochemicals (07/06/2006)
Annual Report: No.13 Russia- Imports, exports, up double digits (07/06/2006)
Annual Report: No. 4 China - Trade skyrockets (07/06/2006)
Annual Report: No. 12 South Korea- Fine-tuning a trade balance (07/06/2006)
Annual Report: No. 11 Iraq- Rebuilding Iraq thanks to oil (07/06/2006)
Annual Report: No. 5 United Kingdom - Setting a fast pace in trade (07/06/2006)
Annual Report: No. 10 Algeria- Algeria ties its fortunes to oil (07/06/2006)
Annual Report: No. 6 Germany - Cars add to spark-fired trade (07/06/2006)
Annual Report: No. 9 The Netherlands- Getting a line to Europe (07/06/2006)
Annual Report: No. 7 Saudi Arabia (07/06/2006)
Annual Report: No. 8 Brazil- New U.S. gateway for Brazil (06/14/2006)
1Q: China, Algeria, Colombia lead way as trade increases 14% (06/02/2006)
Houston's trade surges
No surprise - it's all about the price of oil (01/01/2006)