Brazil’S Trade With Kuwait Grows 50.4%
Date
12/27/2024 2:33:30 PM
(MENAFN- Brazil-Arab News Agency (ANBA))
São Paulo – Brazil's trade with Kuwait grew by 50.4% from January to November this year compared to the same period last year, according to data from the Brazilian government compiled by the Arab-Brazilian Chamber of Commerce (ABCC ). Transactions reached USD 956 million.
The growth occurred due to a similar percentage increase in Brazil's exports to Kuwait and shipments from Kuwait to the Brazilian market. Brazil earned USD 380.4 million from exports to Kuwait from January to November this year, a 53.3% increase. The largest portion of this amount, USD 289 million, was from chicken meat exports, which grew by 51.7% compared to the same period in 2023.
On the other hand, Kuwait grossed USD 575.5 million from shipments to Brazil, a 48.5% increase in the first 11 months of this year compared to the same months in 2023. In this case as well, one product dominated the trade-oil, whose exports to Brazil totaled USD 572.2 million. There was a positive change of 52.8% in Kuwait's oil exports to the Brazilian market.
Kuwait posts trade surplus
Out of the Arab countries, Kuwait was the 14th largest destination of Brazilian exports and the eighth largest supplier to Brazil in the first 11 months of the year. The trade balance between Brazil and Kuwait is favorable to the Arab nation, which exports more to Brazil than imports from it. From January to November this year, Kuwait saw a trade surplus of USD 195.1 million with Brazil.
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Translated by Guilherme Miranda
©Yasser Al-Zayyat/AFP
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