Tuesday 23 October 2018

Arab import of Brazilian products hit $13.4bn

DUBAI, February 18, 2015

Brazilian exports to Arab countries grew significantly last year, to a total value of $13.4 billion,  demonstrating robust bilateral trade relations.

The Arab Brazilian Chamber of Commerce said ‘aircraft and spacecraft’ emerged as the highlight of the imported products from Brazil to the region with a dramatic increase of 7,231 per cent from $3 million in 2013 to $227 million in 2014.  

The UAE registered a surge of 9.96 per cent in imports of products from Brazil to reach $2.84 billion last year from $2.58 billion in 2013, followed by Saudi Arabia at $2.54 billion.

Meanwhile, Qatar recorded a gain of 10.59 per cent from 2013’s $334 million to $369 billion, while imports to Egypt soared $2.31 billion over the previous year’s $2.2 billion.

Michel Alaby, secretary general and chief executive officer of the chamber, said: “The significant growth in exports from Brazil to the Arab nations is a sign of thriving business relations between the two regions. While Brazil has traditionally exported products such as chemicals, food products, machinery, and iron and steel products to the Arab countries, 2014 witnessed a remarkably high demand for aircraft and spacecraft.

“The Arab-Brazilian Chamber of Commerce has been a key player in fostering bilateral relations between Arab and Brazilian traders by facilitating lucrative opportunities for both parties. We are upbeat that 2015 will sustain this robust business climate with trade values reaching greater heights.”

The products imported by Arab countries from Brazil primarily comprised aircrafts and spacecrafts, inorganic chemicals and rare earths, vehicles, iron and steel products, food products, and machinery, said a statement.

While imports of inorganic chemicals and rare earths increased 188 per cent from $146 million in 2013 to $421 million last year, vehicle export grew 183 per cent from $90 million to $256 million.

Iron and steel products earned $207 million, followed by food products such as grains, seed and fruits at $412 million, and machinery at $278 million, it added - TradeArabia News Service

Tags: export | arab | import | Brazil | grew |

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