Brazil's total exports to Arab countries, from January to October 2017, amounted to $11.43 billion, surpassing the previous year’s total of $9.34 billion by 22.31 per cent, according to the Arab-Brazilian Chamber of Commerce (ABCC).

Brazil's overall exports rose from $153.07 billion in 2016 to $183.46 billion during the period, up by 19.85 per cent. Of this total, 6.23 per cent corresponded to expeorts to Arab countries, said a statement from ABCC.

The hike in exports 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 $2.32 billion (growth of 13.89 per cent from $2.04 billion over the same period in 2016); the UAE recorded $2.10 billion (up 19.72 per cent from $1.76 billion); Egypt revealed $2 billion (up 31.71 per cent from $1.52 billion); Algeria $1.01 billion (up 18.67 per cent from $859.33 million); and Iraq $631.98 million (up 71.87 per cent from $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 $3.93 billion.

Brazilian shipments of all types of meat to the Arab region rose slightly by 3.40 per cent to $3.10 billion (against $3 billion in the previous period).

Chicken led the hike, accounting for $2.25 billion to surpass last year’s $2.12 billion for the first 10 months of 2016.

Total Brazilian imports reached $125 billion to surpass 2016’s $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 $5.3 billion – an increase of 17.12 per cent over the previous year’s $4.53 billion for the same period.

The main Arab suppliers to Brazil were Algeria with an almost 40 per cent share, or $2 billion (growth of 31.22 per cent over 2016’s $152 billion for the same period); Saudi Arabia at $1.54 billion (up 50.83 per cent from $1.02 billion); Morocco at $703.88 million (up 37.12 per cent from $513.35 million), and Egypt at $140.15 million (up 91.63 per cent from $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 fertilisers 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, sulphur, plastics and their derivatives, and organic chemicals.

D. 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 favourable business environment,” he said.

“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,” he added. – TradeArabia News Service