Gulf states contributed most to Arab exports to Brazil in the first half of this year, statistics released by the South American country’s Ministry of Development, Industry and Foreign Trade show.
According to the statistics, compiled by the Arab-Brazilian Chamber of Commerce, Arab nations exported $3.37 billion with Qatar exports growing 87.96 per cent to reach $424.5 million from $226 million in the corresponding period of 2014.
During H1 of 2015, exports from Saudi Arabia to Brazil registered $776 million, followed by Kuwait at $243 million and the UAE, $239 million. Other Arab countries, including Egypt, Oman and Bahrain also contributed toward exports to Brazil at $54.36 million, $41.45 million, and $33.36 million, respectively.
Dr Michel Alaby, secretary general and CEO, Arab-Brazilian Chamber of Commerce, said: the flourishing exports from Arab nations to Brazil demonstrate increasing popularity of the regional products among the Brazilian population.
“The Arab region is a vital trading partner for Brazil, contributing significantly to addressing the growing national demand for commodities such as mineral fuel and oil, aluminium, and fertilisers, among others.
In the near future, Brazil will be in need of more exports from the region to support its booming economy. The Arab-Brazilian Chamber of Commerce continues to play a central role in enhancing business ties between Arab region and Brazil by facilitating more avenues for business leaders and traders to meet, explore and sign trading deals.”
At $2.53 billion, the category under “Minerals, Fuel, Oil, etc” was the most exported commodity from the Arab region during the first half of this year, followed by ‘Fertilisers’ at $445 million. However, the aluminium category witnessed maximum growth at 184 per cent to reach $50.38 million, followed by “Salt, Sulphur, Earth, Stone” at 37 per cent to touch $60 million. Other top-selling products from Arab countries to Brazil were plastics, inorganic chemicals, rare earth, electrical machinery, and fish and seafood.
“The growing volume of export reflects thriving trading relations between the South American country and the Arab region with both parties keen to explore more business opportunities,” a chamber statement said.