Friday, 31 July 2015

Arab exports to Brazil total Dh12.4bn in H1 2015

In World Economy News 31/07/2015

Exports from Arab countries to Brazil reached $3.377 billion (Dh12.4 billion) during the first half of 2015, according to the statistics released by Brazil’s Ministry of Development, Industry and Foreign Trade and compiled by the Arab-Brazilian Chamber of Commerce.
Exports from Qatar grew 87.96 per cent to reach $424.5 million in H1 2015 from $226 million for the same period of 2014.
Exports from Saudi Arabia to Brazil totalled $776 million, followed by Kuwait at $243 million and the UAE at $239 million.
Other Arab countries, including Egypt, Oman and Bahrain also contributed toward exports to Brazil at $54.36 million, $41.45 million, and $33.36 million, respectively.
Dr. Michel Alaby, Secretary General and CEO of Arab-Brazilian Chamber of Commerce, said: “The flourishing exports from the Arab Nations to Brazil, which reached $3.377 billion during H1 of 2015, demonstrate increasing popularity of the regional products among Brazilian population. Arab region is a vital trading partner for Brazil, contributing significantly to address the growing national demand for commodities such as mineral fuel and oil, aluminium, and fertilisers, among others. In the near future, Brazil will be in need of more exports from the region to support its booming economy. Arab-Brazilian Chamber of Commerce continues to play a central role in enhancing business ties between Arab region and Brazil by facilitating more avenues for business leaders and traders to meet, explore and sign trading deals.”
At $2.53 billion, minerals, fuel and oil etc were the most exported commodity from the Arab region to Brazil during H1 of 2015, followed by fertilizers at $445 million.
Aluminium witnessed the maximum growth at 184 per cent to reach $50.38 million, followed by salt, sulphar, earth stone at 37 per cent to touch $60 million.
Other top selling products from Arab countries to Brazil include plastic, inorganic chemicals and rare earth, electrical machinery, and fish and seafood.

Source: Emirates 24/7