Brazilian exports to the Arab world rose 8% during the first seven months (7M) of 2023, totalling $10.61 billion, compared to $9.83 billion in the same period in 2022, according to the Arab Brazilian chamber of Commerce (ABCC).
Brazilian exports to the Saudi Arabia totalled $1.87 billion in the first seven months of 2023, while exports to Qatar stood at $155.91 million during the same period. Kuwait also witnessed an increase in Brazilian exports, which amounted to $157.78 million during the first seven months of 2023, while the exports to Egypt totalled $1.16 billion in the same period. The exports to the UAE were worth $1.65 billion.
ABCC reports stated that poultry and bovine animal meat, ores, slag, sugars, cereals, oil seeds and soya beans, natural or cultured pearls, precious metals, jewellery, coffee, tea and spices were the top exported products to the Arab nations.
Osmar Chohfi, President of ABCC, said: “The Arab Brazilian chamber of Commerce (ABCC) plays an essential role in strengthening the ties between Brazil and the Arab world. These positive figures indicate the strong and expanding trade relations between both sides. Through our various initiatives and dedicated efforts, the chamber has significantly contributed to increasing Brazilian exports to the Arab region.
“The consistent growth in Brazilian exports to the Arab countries further underscores the unwavering commitment of both regions to foster mutually beneficial economic ties. This thriving trade relationship reinforces the Arab world's position as a pivotal partner in Brazil’s global trade network.”
He added: “We remain committed to building mutual understanding, expanding market access for Brazilian products as well as strengthening collaboration between these two dynamic and diverse regions. By facilitating trade, promoting investment opportunities and encouraging cultural exchanges, we strive to boost bilateral trade relations and economic cooperation between the Arab countries and Brazil.”
Brazilian imports from the Arab countries reached $6.11 billion in the first seven months of 2023. According to ABCC reports, imports from the KSA stood at $1.99 billion during the first seven months of this year, while imports from Qatar amounted to $408.5 million. Meanwhile, imports from Kuwait reached $188.18 million, while Egypt accounted for imports worth $275.45 million. Imports from the UAE reached $722.07 million between January and July 2023.
The top imported products from the Arab countries to Brazil were mineral fuels, fertilisers, aluminum, plastics, inorganic chemicals, precious metals, salt, sulfur, stones, organic chemicals, fish, cast iron, iron, and steel.-- TradeArabia News Service