Brazilian exports to Saudi Arabia have witnessed remarkable growth, reaching $1.87 billion in the first seven months of the year, marking the highest value among all Arab countries. This information comes from data provided by the Arab-Brazilian Chamber of Commerce and highlighted by Emirates News Agency.
Correspondingly, Brazilian imports from Saudi Arabia also dominated the Arab region, amounting to $1.98 billion during the same period. Among other Arab nations, Brazilian exports to the United Arab Emirates ranked second highest, totaling $1.64 billion.
Egypt followed with exports at $1.16 billion, while Kuwait and Qatar registered $157.7 million and $155.9 million respectively.
Overall, Brazilian exports to the Arab region exhibited an 8 percent increase to $10.61 billion from January to July, compared to $9.82 billion during the same timeframe in the previous year.
The Arab-Brazilian Chamber of Commerce indicated that Brazilian imports from the UAE were the second largest, reaching $722 million. Qatar ranked third with $408.5 million, followed by Egypt at $275.4 million and Kuwait at $188.1 million. Brazilian imports from Arab countries totaled $6.11 billion in the first seven months of the year.
Key products exported to Arab nations during this period included poultry, animal meat, sugar, cereals, oil seeds, soybeans, coffee, and spices. In return, Brazil imported mineral fuels, fertilizers, aluminum, plastics, inorganic chemicals, iron, and steel from Arab countries.
Osmar Chohfi, President of the Arab-Brazilian Chamber of Commerce, emphasized the thriving trade relationship between the two regions and its contributions to mutual economic growth. He noted that this collaboration underscores the significance of the Arab world as a vital partner in Brazil's global trade network.
Chohfi also highlighted Brazil's commitment to strengthening ties and expanding market access for Brazilian products in Arab countries. The growing collaboration is reflected in various trade sectors, including coffee exports, which saw a substantial increase of 56.2 percent to Arab nations in the first half of 2023 compared to the same period in 2022.