Brazil exports $1.036 billion worth of products to the Middle East and North Africa (Mena) region in March, an increase of 1.03 per cent over the same period last year, according to latest statistics.

The statistics released by Brazil’s Ministry of Development, Industry and Foreign Trade and compiled by the Arab-Brazilian Chamber of Commerce (ABCC) noted that the total export volume touched 3.8 million tonnes, growing 27.7 per cent.

The revenues accelerated for the first time this year in March, demonstrating thriving mutual trade relations, it said.

Sugar, as the top selling product to the Arab nations, generated $259.1 million in revenue, up 10.7 per cent. It was followed by poultry, which earned $215.3 million and iron with $133.9 million in exports.

Dr Michel Alaby, secretary general andchief executive officer, ABCC, said: “The revenue and volume of trade in March demonstrate Brazil’s strengthening commercial relations with Arab countries. While top products exported by Brazil include sugar, poultry and iron ore, the 70.95 per cent growth in the export of raw gold is a sign that there is always room for trade in newer commodities.

The UAE was the leading buyer of Brazilian products from the Arab world in March, having registered $245.1 million in revenues, a hike of 80.3 per cent for the same period last year.

Raw gold topped the list of Brazilian product bought by the UAE, amounting to $63.2 million and a growth of 70.95 per cent. Saudi Arabia was the second major importer, buying $215 million worth of products to record a growth of 26.5 per cent, followed by Egypt at $133.3 million, and Algeria at $97.6 million, said the report.

Meanwhile, Brazil’s purchases from Arab countries amounted to $401.7 million in March.

The top imported items were mineral fuel at $280.4 million, followed by fertilisers at $58.5 million, it said.

Algeria, Iraq, Saudi Arabia, the UAE, Qatar and Morocco are the top Arab exporters to Brazil, it added. - TradeArabia News Service