UAE, August 2, 2017 -The Arab-Brazil Chamber of Commerce (ABCC) Brazil has announced that Brazilian average daily exports to the Arab region continue to soar, reporting a robust performance during the first half of 2017. Brazil's total export market share in the Arab region rose to 15.4 per cent during the first half of 2017, in comparison with the total export market share recorded in 2016. Main exports included sugar, iron ore, beef, sports hunting equipment, car engines and chassis, automobiles, soybeans, poultry, coffee beans, precious and semi-precious stones, and cast-iron pipes. Saudi Arabia, the UAE, Algeria, Egypt, Oman and Bahrain were the largest importers of these goods.
Dr. Michel Alaby, Secretary General and CEO, ABCC, said: “The outstanding performance of Brazilian exports to the Arab region is a result of the strengthening trade relations between these two regions which will continue to reap the fruits of this ongoing process over many years. We foresee demand for Brazilian commodities in the Arab World to increase even further towards the second half of the year as the region remains unfazed by socioeconomic challenges, with economic programs on track to expand trade opportunities.”
Brazil's imports from Arab countries also revealed a growth of 27 per cent during the period with crude oil, urea, potassium chloride, fertilizers, plastic polymers, insecticides, semi-finished iron/steel products, aircraft parts, aluminum alloys, and non-fabrics as major drivers. Imports increased from USD 2.7 billion worth of goods, to USD 3.4 billion for the South American nation in 2017.
“Overall, Brazil demonstrated global economic resilience amidst challenges as total exports to the Arab region reached USD 6 billion during the first half of the year, with soybeans, iron, oil, sugar and vehicles as leading products. These commodities continue to be among the Arab region's top imports from Brazil, sustaining the region's growing demand both from the industrial sector and the consumer market. We maintain our efforts to facilitate growth opportunities between these regions and improve trade relations by ensuring channels of business communications are effectively in place,” Alaby concluded.