Brazilian pharma exports to GCC up 73pc
Dubai, May 11, 2013
Brazil exported $7.48 million worth of pharmaceutical products to the GCC in 2012, increasing by over 73 per cent compared to $4.31 million in 2011, according to figures released by the Arab Brazilian Chamber of Commerce (ABCC).
Saudi Arabia and the UAE accounted for the biggest share of the Brazilian pharmaceutical exports at 57.02 per cent and 41.61 per cent, respectively.
The total pharmaceutical exports to Saudi surged by 95.63 per cent in 2012 to reach $4.26 million from $2.18 million in 2011, while exports to the UAE were valued at $3.11 million, up 56.28 per cent from $1.99 million in 2011.
The top Brazilian pharmaceutical products that are exported to the region include antibiotics, dental products and vaccines for veterinary use.
The Arabian Gulf region ranks 44th among the top export destinations of Brazilian pharmaceutical products, but the Arab Brazilian Chamber of Commerce believes this presents a huge window of opportunity for Brazilian exporters to further expand their trade activities in the region.
Michel Alaby, the general secretary and CEO of Arab Brazilian Chamber of Commerce, said: "The dramatic increase in the value of pharmaceutical exports to the GCC clearly demonstrates the strategic importance of the Gulf region as a key trade partner of Brazil."
Saudi and the UAE, two of the biggest economies in the region, are particularly important and highly influential markets, he remarked
Brazil has been a leading global supplier of pharmaceutical products with 10 of the world’s biggest pharmaceutical companies – Pfizer (United States), Novartis (Switzerland), Sanofi-Aventis (France), Roche (Switzerland), Medley (France), AstraZeneca (Anglo Swedish), EMS Sigma Pharma (Brazil), Eurofarma (Brazil), Aché (Brazil) and Merck (Germany) – having established manufacturing facilities in the country.
Brazil’s global exports of pharmaceutical products amounted to $2.98 billion in 2012 with Denmark, Venezuela, United States, Argentina and Mexico among its biggest global markets.
"While the recent figures point to the robust growth performance of Brazilian pharmaceutical exports, it also underlines a huge potential to further expand our regional presence by opening new trade routes in other Gulf countries," said Alaby.
"ABCC will therefore play an important role in connecting Brazilian exporters to key players in the GCC’s highly lucrative pharmaceutical market,” he added.-TradeArabia News Service