(MENAFN- Daily News Egypt)
The Arab-Brazilian Chamber of Commerce (ABCC) has reported a remarkable growth of 9.35% in Brazilian trade with the Arab world during the first 10 months of 2023, reaching $15, compared to $14 in the same period in 2022. The trade balance included Brazilian exports of $15 and imports of $8 from the Arab region.
According to a statement issued by the ABCC on Sunday, the top destinations for Brazilian exports to the Arab world were Saudi Arabia ($2), the UAE ($2), and Egypt ($1). Other countries that showed a strong demand for Brazilian products were Qatar ($266m) and Kuwait ($220m).
The statement also said that the main sources of Brazilian imports from the Arab world were Saudi Arabia ($2), the UAE ($998m), and Qatar ($605m). Other countries that increased their exports to Brazil were Egypt ($439m) and Kuwait ($323m).
Osmar Chohfi, the President of ABCC, said:“The impressive trade figures reflect the strong and expanding relations between Brazil and the Arab world. At ABCC, we work tirelessly to promote Brazilian exports to the Arab region by implementing various strategic initiatives and efforts. These positive results demonstrate our commitment to developing solid bilateral ties with Arab countries.”
The statement further revealed that the export of beef and poultry from Brazil to the Arab countries showed a robust performance from January to October 2023. The beef exports from Brazil to the Arab world amounted to $866, with the UAE leading the list at $243. Egypt, Saudi Arabia, Libya, and Lebanon also imported significant amounts of Brazilian beef, contributing $216, $174, $59, and $46, respectively.
The poultry exports from Brazil to the Arab world also witnessed a major increase, totalling $2. The UAE was the top importer, with $742, followed by Saudi Arabia, with $699. Kuwait, Qatar, and Egypt also recorded a high demand for Brazilian poultry, valued at $180, $133, and $112, respectively.
The statement concluded that the notable increase in the trade between Brazil and the Arab world indicates the growing economic partnership and the remarkable resilience and adaptability of both sides in the face of numerous global challenges.
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