The Arab-Brazilian Chamber of Commerce (ABCC) said Brazil’s trade balance with Arab countries reached a total of $2.39 billion during the first six months, following sustained robust trade relations between the South American country and Arab markets.
Brazilian goods worth around $1.08 billion were exported to the UAE market, while Saudi Arabia and Egypt bought 1,419.01 thousand tonnes and 2,765.66 thousand tonnes of Brazilian commodities, respectively.
Brazil’s total exports to the Arab countries jumped 15.1 per cent during the first half of this year to hit the $6 billion mark, said a statement from ABCC.
Of this, the South American nation’s exports to Saudi Arabia stood at $991.21 million and Egypt at $791.53 million, it stated.
Soybeans, iron, oil, sugar, and vehicles continued to be among the Arab region’s top imports from Brazil, sustaining the growing demand from both the regional industrial sector and the consumer market, said the statement.
The country’s imports from the Arab states were also strong during the same period, growing at 11.5 per cent to reach $3.521 billion, it added.
Saudi Arabia exported 2,433.08 thousand tonnes of goods worth $1.191 billion to Brazil, while the UAE shipped 619.66 thousand tonnes of commodities amounting to $336.14 million to the South American nation.
Egypt exported to Brazil 542.68 thousand tonnes of goods worth $135.98 million, added the statement.
Rubens Hannun, president, ABCC, said: “The surge in Brazil’s exports and imports during the first half of this year proved anew the growing trade relations between the country and its trade partners in the Arab world.”
“We are confident that their ties will only grow stronger in the coming months as we expect to see the Arab markets’ demand for Brazilian commodities to continue to rise towards the second half of the year,” he added.-TradeArabia News Service