The Arab Brazilian Chamber of Commerce (ABCC) recorded a surge of 8 percent in Brazilian exports to the Arab world during the first seven months of 2023, totalling to USD 10.61 billion, compared to USD 9.825 billion in the same period in 2022.
Brazilian exports to the Kingdom of Saudi Arabia (KSA) totalled to USD 1.873 billion in the first seven months of 2023, while exports to exports to the United Arab Emirates amounted to USD 1.646 billion.
Brazilian exports to Qatar stood at USD 155.91 million during the same period. Kuwait also witnessed an increase in the Brazilian exports, which amounted to USD 157.78 million during the first seven months of 2023, while the exports to Egypt totalled to USD 1.163 billion in the same period.
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 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 strategic 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.”
“We remain committed to fostering 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 further reached USD 6.114 billion in the first seven months of 2023, as opposed to the figures recorded in the same period previous year. According to ABCC reports, imports from the KSA stood at USD 1.986 billion during the first seven months of this year, while imports from Qatar amounted to USD 408.50 million during the same period. Meanwhile, imports from Kuwait reached USD 188.18 million, while Egypt accounted for imports worth USD 275.45 million. Imports from the UAE reached USD 722.07 million between January and July 2023.
The top imported products from the Arab countries to Brazil were mineral fuels, fertilizers, aluminum, plastics, inorganic chemicals, precious metals, salt, sulfur, stones, organic chemicals, fish, cast iron, iron, and steel.
News Source: Emirates News Agency