Gulf Exporters

Brazil’s exports to Arab states surge

Brazil’s total exports to Arab countries, from January to October 2017, amounted to $11.43 billion, surpassing the previous year’s total of $9.34 billion by 22.31 per cent, according to the Arab-Brazilian Chamber of Commerce (ABCC).

Brazil’s overall exports rose from $153.07 billion in 2016 to $183.46 billion during the period, up by 19.85 per cent. Of this total, 6.23 per cent corresponded to exports to Arab countries, said a statement from ABCC.

The hike in exports was driven by automobiles, aircraft engines and turbines, beef, chassis and motors, livestock, iron ore, maize, refined sugar, soybeans and coffee beans. The statements are based on statistics released by the Brazilian Ministry of Industry, Foreign Trade and Services.

In the Arab World, the top five destinations of Brazilian exports also followed the same growth trend, with Saudi Arabia accounting for $2.32 billion (growth of 13.89 per cent from $2.04 billion over the same period in 2016); the UAE recorded $2.10 billion (up 19.72 per cent from $1.76 billion); Egypt revealed $2 billion (up 31.71 per cent from $1.52 billion); Algeria $1.01 billion (up 18.67 per cent from $859.33 million); and Iraq $631.98 million (up 71.87 per cent from $367.72 million).

Together these five countries accounted for more than 70 per cent of Brazil’s total exports to Arab nations.

Total Brazilian imports reached $125 billion to surpass 2016’s $114.56 billion by 9.11 per cent over the same period in the first 10 months of 2017.

Of this total, 4.25 per cent corresponded to Arab countries which collectively accounted for $5.3 billion – an increase of 17.12 per cent over the previous year’s $4.53 billion for the same period.

The main Arab suppliers to Brazil were Algeria with an almost 40 per cent share, or $2 billion (growth of 31.22 per cent over 2016’s $152 billion); Saudi Arabia at $1.54 billion (up 50.83 per cent from $1.02 billion); Morocco at $703.88 million (up 37.12 per cent from $513.35 million), and Egypt at $140.15 million (up 91.63 per cent from $73.14 million). Together, these four countries accounted for more than 80 per cent of Brazil’s total Arab imports.

D Michel Alaby, secretary general and CEO of ABCC, said: “The latest figures released by the Brazilian Ministry of Industry, Foreign Trade and Services once again highlight the success brought in by the shared commitment by both parties to foster trade relations between Brazil and the Arab world.”

“The recent hike in sales from and to the region reinforces the confidence in the region’s economy, attractive investment policies, and favourable business environment,” he said.