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UAE, November 20, 2017 –  Brazil's total exports rose by 19.85 per cent from USD 153.07 billion in 2016 to USD 183.46 billion from January to October 2017, according to the Arab-Brazilian Chamber of Commerce (ABCC). Of this total, 6.23 per cent corresponded to Arab countries, which together accounted for USD 11.43 billion to surpass the previous year's USD 9.34 billion by 22.31 per cent.

The hike in sales was driven by automobiles, aircraft engines and turbines, beef, chassis and motors, livestock, iron ore, maize, refined sugar, soybeans and coffee beans. The statements are based on statistics released by the Brazilian Ministry of Industry, Foreign Trade and Services.

In the Arab World, the top five destinations of Brazilian exports also followed the same growth trend, with Saudi Arabia accounting for USD 2.32 billion (growth of 13.89 per cent from USD 2.04 billion over the same period in 2016), the United Arab Emirates USD 2.10 billion (+19.72 per cent from USD 1.76 billion), Egypt USD 2 billion (+ 31.71 per cent from USD 1.52 billion), Algeria USD 1.01 billion (+ 18.67 per cent from USD 859.33 million) and Iraq USD 631.98 million (+ 71.87 per cent from USD 367.72 million). Together these five countries accounted for more than 70 per cent of Brazil's total exports to Arab nations.

Sugar and meat remain the main Brazilian products exported to the Arab region, together corresponding to more than 60 per cent of total Brazilian exports to the region from January to October 2017. Sugar increased more than 40 per cent over the same period in 2016 to USD 3.93 billion.

Brazilian shipments of all types of meat to the Arab region rose slightly by 3.40 per cent to USD 3.10 billion (against USD 3 billion in the previous period). Chicken led the hike, accounting for USD 2.25 billion to surpass last year's USD 2.12 billion for the first 10 months of 2016.

Total Brazilian imports reached USD 125 billion to surpass 2016's USD 114.56 billion by 9.11 per cent over the same period in the first 10 months of 2017. Of this total, 4.25 per cent corresponded to Arab countries which collectively accounted for USD 5.3 billion – an increase of 17.12 per cent over the previous year's USD 4.53 billion for the same period.

The main Arab suppliers to Brazil were Algeria with an almost 40 per cent share, or USD 2 billion (growth of 31.22 per cent over 2016's USD 152 billion for the same period), Saudi Arabia at USD 1.54 billion (+ 50.83 per cent from USD 1.02 billion), Morocco at USD 703.88 million (+ 37.12 per cent from USD 513.35 million), and Egypt at USD 140.15 million (+ 91.63 per cent from USD 73.14 million). Together, these four countries accounted for more than 80 per cent of Brazil's total Arab imports.

As seen in the Brazilian exports to the Arab region, imports also present a concentration in the product list: mineral fuels and fertilizers comprised almost 90 per cent of Brazil's imports from the region, increasing by 8. 89 per cent and 38.85 per cent, respectively. Other products imported by Brazil from Arab countries with lower values include salt, sulfur, plastics and their derivatives, and organic chemicals.

Dr. Michel Alaby, Secretary General and CEO of ABCC said: “The latest figures released by the Brazilian Ministry of Industry, Foreign Trade and Services once again highlight the success brought in by the shared commitment by both parties to foster trade relations between Brazil and the Arab World. The recent hike in sales from and to the region reinforces the confidence in the region's economy, attractive investment policies, and favorable business environment. Automobiles, aircraft engines and turbines were among the items that contributed to the hike in sales to the region while exports from the Arab World to Brazil was driven by the demand for crude oil, urea, potassium chloride, acyclic alcohols and their halogen-based products and natural gas among others.”

Posted by : GoDubai Editorial Team
Viewed 3282 times
Posted on : Monday, November 20, 2017  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
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