UAE is Brazil’s second largest export market in Arab World
The UAE was the second biggest market for Brazilian exports in the Arab countries last year with $2.5 billion (Dh9.175 billion).
The Arab-Brazilian Chamber of Commerce has announced that Brazilian exports to Arab countries registered significant growth in 2015.
According to recently released data, the South American country exported products worth $12.12 billion to the region last year. The growing outbound trade volume reflects an increasing demand for high-quality Brazilian products as well as the excellent bilateral relations between Brazil and Arab nations.
Exports to the Kingdom of Saudi Arabia increased the most to reach $2.750.37 billion, 8.19 per cent up from the $2.542 billion figure of 2014. The UAE occupies second place with $2.503.67 billion, followed by Egypt at $2.05 billion. Exports to Bahrain and Kuwait reached $309 million and $239.53 million, respectively.
Dr. Michel Alaby, Secretary General and CEO, Arab-Brazilian Chamber of Commerce, said: “Brazil continues to share outstanding business ties with the Arab World as demonstrated by the recent export data. The growing popularity and demand for our local products in the region is a reflection of the high quality of our commodities, whether they be foodstuff or engineering items. The Arab-Brazilian Chamber of Commerce has played a crucial role in bringing entrepreneurs and traders from both regions together through exhibitions, business meets and conferences to explore fresher and lucrative opportunities. In the near future, Brazil aims to further increase the volume of its exports to Arab countries to revitalise its economy and we will continue to support its introduction of more products to the regional market.”
Top exported products from Brazil to the Arab World include ‘Inorganic Chemicals; Rare Earth Materials,’ ‘Miscellaneous Grains, Seed, Fruit,’ and ‘Cereals.’ Exports of ‘Inorganic Chemicals; Rare Earth Materials’ increased 34.67 per cent to reach $567.38 million in 2015 from $421.21 million in 2014. Likewise, miscellaneous grains, seed, fruit garnered a revenue of $493.21 million, an increase of 19.55 per cent from 2014’s $412.56 million.
Lastly, ‘Cereals’ saw an increase of 18.90 per cent to $919.41 million from $773.28 million in 2014. Other popular exported items include meat, sugars, ores, slag, ash and machinery.
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