Brazil’s exports to Arab countries jumped 25.71% to $14.47 billion during the first ten months (10M) of 2022, the Arab Brazilian Chamber of Commerce (ABCC) reported. The exports grew from $11.51 billion in 2021 to $14.47 billion from January to October this year.
Brazilian exports to the UAE shot up 46.53% from $1.76 billion in the first ten months of 2021 to $2.577 billion in 2022. Exports to Saudi Arabia, on the other hand witnessed a growth of 39.13% from $1.713 billion in 2021, to $2.384 billion in 2022.
Qatar experienced a similar increase of 41.63% to $339.05 million between January and October of 2022, as compared to $239.39 million in 2021. On the other hand, Kuwait experienced a growth of 69.37% from $155.58 million in 2021 to $263.5 million in 2022, while Egypt saw a surge of 72.13% from $1.320 billion to $2.273 billion.
Trade balance positive
Osmar Chohfi, President of ABCC said: “The trade balance between Brazil and Arab countries remains positive during the first ten months of 2022, which reflects the robust, as well as growing trade relations between the countries. In the coming months, we anticipate a further increase in regional demand for Brazilian products owing to many factors, including a boost in tourism.
“Brazil’s robust export growth highlights the Arab countries’ resilience and capacity to rebound and prosper, even in time of challenging global market conditions. The ABCC further strives to encourage commerce and explore new avenues in the economic relations between the two countries. In this regard, Brazil has always been and will continue to be a reliable partner for the Arab world.”
There has also been a significant increase in the total exports of beef from Brazil to the Arab countries between January and October 2022, registering a growth of 34.09% to $936.9 million, as compared to $698.7 million in 2021. The UAE recorded an increase of 40.86% from $166.99 million to $235.22 million in 2022, while Saudi Arabia reported a growth of 6.54% to $165.14 million as compared to $155.01 million.
Exports to Qatar surge 91.27pc
On the other hand, while Qatar witnessed a surge of 91.27% from $16.44 million to $31.45 million, Egypt recorded a growth of 70.28% to $340.32 million, as compared to $199.86 million reported during the same time frame last year.
Similarly, the Arab countries also saw an increase of 33.02% between January and October 2022 in chicken meat exports by Brazil, from $2.004 billion in 2021 to $2.666 billion in 2022. The UAE saw a surge of 49.48% from $537.46 million in the first ten months of 2021, to $803.41 million in 2022.
Meanwhile, Saudi Arabia witnessed an increase of 25.96% to $719.46 million between January and October of 2022, as compared to $571.19 million last year, while Egypt reported a growth of 36.42% from $44.11million in 2021 to $60.17 million. Qatar also witnessed an increase in the exports of chicken meats from Brazil, registering a growth of 66.71% from $106.76 million in 2021 to $177.99 million in 2022.-- TradeArabia News Service