Arab exports to Brazil hit $4bn in H1
Dubai, September 11, 2012
Arab countries exported nearly $4 billion worth of goods to Brazil during the first half of 2012, while imports from Brazil reached more than $3.6 billion during the same period, said a top official.
Arab exports to Brazil included mineral fuel, oil and fertilizers, while Brazilian exports to Arab countries mainly consisted of sugars, meat, ores, slag, ash and cereals, said Michel Alaby, CEO, Arab-Brazilian Chamber of Commerce.
Saudi Arabia remains the leading trade partner of Brazil in the Arab world with more than $720 million in imports and over $1.4 billion in exports to Brazil during the first half of 2012, said a report from the organisation.
The UAE has also been a major trade partner of Brazil with more than $489 million in imports and over $65.6 million in exports. Egypt ranks second among top Arab importers of Brazilian products with more than $674 million in imports in the first half of 2012, while Egyptian exports to Brazil totaled over $40 million.
Other top Arab trade partners of Brazil include Qatar and Kuwait, which exported products to Brazil worth in excess of $362 million and $337 million, respectively. On the other hand, Qatar and Kuwait imported products from Brazil worth more than $80 million and $64 million, respectively, during the first six months of 2012.
“Trade activities between Brazil and the Arab world will continue to expand as Brazilian traders and their Arab counterparts are actively exploring new opportunities for mutual growth,” Alaby said.
“The success of matchmaking events being organized by the Arab-Brazilian Chamber of Commerce underlines the growing interest of Arab markets in Brazilian products. Moreover, the Arab world will continue to be a major source of mineral fuel, oil and even aluminium products that are vital in sustaining the growth of the Brazilian economy.
“The Arab-Brazilian Chamber of Commerce remains fully committed with its mission to cultivate greater interaction between Brazilian and Arab companies and unlock more exciting prospects that will further expand and strengthen the economic ties between these key trading partners,” he added.
Other prominent exports from Brazil to various Arab markets include machinery, grains, seed and fruit products, inorganic chemicals and rare earth metals, fats and oils, natural pearls and stones, spices, coffee and tea.
Arab exports to Brazil, on the other hand, also include plastic products, aluminium, inorganic chemicals and rare earth metals, electrical machinery, glass and glassware, fish and seafood, and woven apparel, the report said. – TradeArabia News Service