Egypt Grows As Brazil’S Trade Partner

2024-08-02 11:34:16

(MENAFN- Brazil-Arab News Agency (ANBA)) São Paulo – Egypt has grown as a trade partner for Brazil, particularly in agribusiness. Brazilian exports to the Arab country climbed 70.7% in the first half of the year compared to the same months in 2023. Brazilian agribusiness exports grew even further at 83.5%, and Egyptians became the top destination in Africa of agricultural goods from Brazil over the period.

Compiled data from systems Agrostat, of Brazil's Ministry of Agriculture, Livestock and Supply , Comex Stat, of the Ministry of Development, Industry, Trade and Services, and Trade Map shows an increase of 72.2% in trade exchange between Brazil and Egypt in H1 this year, to USD 2 billion. Out of this number, USD 1.67 billion were Brazilian exports, and USD 376.3 million Egyptian exports to Brazil. The latter were up 79.5%.

Agribusiness trade

Leading Brazilian exports to Egypt were in agribusiness. Of the USD 1.67 billion worth of goods Brazil supplied Egypt, USD 1.31 billion were from the sector, that is, 78%. The Arab country is the 13th largest importer of the Brazilian agribusiness. Among Arab states, Egypt is second only to the United Arab Emirates as major destinations of agricultural products from Brazil.

The Brazilian agribusiness goods Egyptians acquired the most in H1 this year were sugar at 34.5%, up 166.8% from a year earlier, followed by soybeans at 20.9%, up 323.15%, cereals, flours and preparations at 16.9%, up 73.15%, meats at a 12.2% share, down 34.94%, and forest products at 4.17%, up 96.46%.

Despite being a major producer, Brazil also imports agribusiness goods from Egypt. In H1 this year, these purchases reached USD 80.3 million, a 79% from the same months of 2023. Fruits accounted for a 44.26% share, produces, beans, roots and tubers for 37.8%, fibers and textile products at 5.4%, teas, mates and spices at 3.42%, and juices 2.84%.

Read more:
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Translated by Guilherme Miranda

The post Egypt grows as Brazil's trade partner appeared first on ANBA News Agency .

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