Brazil’s total export market share in the Arab region rose 13.2 per cent from January to September 2019 compared the previous year, which positively contributed to its continuously improving trade balance with major Arab countries, recent figures released by Arab-Brazilian Chamber of Commerce (ABCC) showed.
ABCC said the Brazilian trade balance with Arab states surged from 18,542.35 thousand tons valued at USD 2,991.20 million to 20,397.72 thousand tons worth USD 4,152.29 million, posting a change of 38.8 per cent from January to September 2019 compared the previous year.
The report also showed the top three largest importers of Brazilian goods during the covered period. They were the UAE (2,065.34 thousand tons valued at USD 1,727.36 million); Saudi Arabia (2,489.61 thousand tons worth USD 1,511.95 million); and Egypt (5,398.73 thousand tons worth USD 1,489.14 million).
The main exports included meat, corn, beet sugar, iron ores and concentrates, aircrafts, satellites, live bovine animals, bovine meat, coffee, petroleum oils, soya-bean oil, soda or sulphate, plastering materials, lime and cement, organic chemicals, and fish.
Rubens Hannun, President, ABCC, said: “The recent figures reflected the strengthening trade relations between Brazil and major Arab markets. Like in the past, we expect to see the same upward trend in the coming years as they both continue to look for ways to bring their trade ties to the next level. Their robust trade relations are mainly being driven by the region’s strong demand for Brazilian products, which are renowned for their exceptional quality”.
Hannun added: “We foresee this demand to increase further despite present challenges. Thanks to the country’s economic programs, we are witnessing more growth opportunities and we at ABCC will continue to help facilitate trade activities in line with their respective national development agendas.”