Brazil imports goods worth USD 7.6 billion from Arab World in 2018
The Arab-Brazilian Chamber of Commerce (ABCC) revealed that Brazil imported goods worth USD 7.6 billion from the Arab World in 2018, recording a Year-on-Year growth of 18 per cent in imports from USD 6.4 billion in 2017. This amounts to 17.6 billion kg of goods in terms of volume. Exports to Brazil from the UAE climbed to USD 561 million from last year’s USD 186 million, recording a staggering 200 per cent YoY growth.
Saudi Arabian exports to Brazil accounted for USD 2.3 billion, up 23 per cent from 2017, while Egypt, Kuwait, Oman, and Bahrain exported goods worth USD 269 million, USD 212 million, USD 124 million and USD 116 million respectively to Brazil in 2018. In terms of volume, these Arab countries exported goods worth 1.14 billion kg, 622 million kg, 391 million kg, and 280 million kg respectively.
The most exported items to Brazil from the Arab countries include mineral fuels, mineral oils, bituminous substances and mineral waxes; fertilizers; plastic; salt and Sulphur; earth and stone; plastering materials, lime and cement; organic chemicals; and fish, crustaceans and mollusks, other aquatic invertebrates, preparations of vegetables, fruit, nuts or other parts of plants; glass and glassware.
Rubens Hannun, President, Arab-Brazilian Chamber of Commerce, said: “The figures for 2018 once again reflect the success of ABCC’s efforts to bolster the existing trade ties between Brazil and the Arab countries. Thanks to the shared commitment by both parties, products from Arab countries continue to find newer markets in Brazil and we expect these figures to rise further in 2019.”