Arab-Brazil trade worth $26 billion
Sugar is Brazil's biggest export to the Middle East
Trade flow between Brazil and Arab countries reached nearly $26 billion in 2012, increasing by 3.26 per cent from $25.11 billion in 2011, according to figures released by the Arab-Brazilian Chamber of Commerce.
Brazil imported $11.10 billion worth of goods from Arab countries in 2012, increasing by 11 per cent from $9.98 billion in 2011, while Brazilian exports to the Arab world totaled $14.83 billion last year.
Fuels ($9.11 billion) topped the list of goods imported by Brazil from the Arab world, followed by fertilizers ($1.32 billion) and salt/sulfur ($180 million). On the other hand, the top Brazilian exports to Arab countries were sugars ($4.24 billion), meat ($3.93 billion) and ores ($2.44 billion), a statement said
Michel Alaby, general secretary and CEO of Arab-Brazilian Chamber of Commerce, said: “Brazil continues to nurture strong trade relations with the Arab world and this is evident in the sustained growth of trade volume between the two parties over the years. Moreover, Brazil and its Arab partners are continuously engaged in multilateral talks to further expand trade activities and explore mutually beneficial investment opportunities across diverse industries.
“The Arab Brazilian Chamber of Commerce, in particular, plays a key role in nurturing and consolidating these strategic partnerships, while helping generate new opportunities for Arab and Brazilian enterprises. It was certainly another solid year overall in 2012 despite a few challenges along the way, and we intend to build on this important breakthrough to further boost economic, cultural and tourism activities between Brazil and the Arab world.”
Brazilian imports witnessed an increase from nearly all Arab exporting countries, led by Lebanon (491 per cent), Qatar (214 per cent), Kuwait (148 per cent) and Bahrain (103 per cent). Brazilian exports, on the other hand, slightly declined by nearly 2 per cent from $15.13 billion in 2011 as a result of political instability in some Arab countries. Nonetheless, there was a significant increase in exports to several other Arab countries, including Oman (35.73 per cent), Yemen (38.37 per cent), UAE (13.26 per cent) and Egypt (3.35 per cent), the statement said.