Arab imports from Brazil reach $3.6bn in H1 2012 while exports to Brazil total nearly $4bn
- Saudi Arabia: Tuesday, September 11 - 2012 at 12:54
- PRESS RELEASE
Arab countries imported more than $3.6bn worth of goods from Brazil during the first half of 2012, while Arab exports to Brazil reached nearly $4bn during the same period, reaffirming the importance of Brazil as a key trade partner of the Arab world.
According to the Arab-Brazilian Chamber of Commerce, the Kingdom of Saudi Arabia, the region's largest economy, remains the leading trade partner of Brazil in the Arab world. KSA had more than $720m in imports and over $1.4bn in exports to Brazil during the first half of 2012. The UAE has also been a major trade partner of Brazil with more than $489m in imports and over $65.6m in exports. Egypt ranks second among top Arab importers of Brazilian products with more than $674m in imports in the first half of 2012, while Egyptian exports to Brazil totaled over $40m.
Other top Arab trade partners of Brazil include Qatar and Kuwait, which exported products to Brazil worth in excess of $362m and $337m, respectively. On the other hand, Qatar and Kuwait imported products from Brazil worth more than $80m and $64m, respectively, during the first six months of 2012.
Michel Alaby, CEO, Arab-Brazilian Chamber of Commerce, said: "Trade activities between Brazil and the Arab world will continue to expand as Brazilian traders and their Arab counterparts are actively exploring new opportunities for mutual growth. The success of matchmaking events being organized by the Arab-Brazilian Chamber of Commerce underlines the growing interest of Arab markets in Brazilian products. Moreover, the Arab world will continue to be a major source of mineral fuel, oil and even aluminium products that are vital in sustaining the growth of the Brazilian economy. The Arab-Brazilian Chamber of Commerce remains fully committed with its mission to cultivate greater interaction between Brazilian and Arab companies and unlock more exciting prospects that will further expand and strengthen the economic ties between these key trading partners."
Other prominent exports from Brazil to various Arab markets include machinery, grains, seed and fruit products, inorganic chemicals and rare earth metals, fats and oils, natural pearls and stones, spices, coffee and tea. Arab exports to Brazil, on the other hand, also include plastic products, aluminium, inorganic chemicals and rare earth metals, electrical machinery, glass and glassware, fish and seafood, and woven apparel.
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