Brazil’s exports to the Arab region grew to $3.15bn during the first quarter (Q1) of 2019, up from $2.75bn recorded during the same period last year, according to the latest figures released by the Arab-Brazilian Chamber of Commerce (ABCC).
Total exports to Arab countries reached 11.5m tonnes combined during the first three months of the year, a major jump from 9.1m tonnes recorded during the same months in 2018.
The breakdown of data showed that 3.3m tonnes of imported Brazilian products worth $240.37m went to Oman. Bahrain imported 2.3m tonnes of commodities valued at$173.22m from Brazil, while Egypt’s purchase of 1.63m tonnes of products was valued $412.04m. A total of 711.67 thousand tonnes of goods amounting to $479.20m and 650.23 thousand tonnes of products worth $794.53m went to Saudi Arabia and the UAE, respectively.
Rubens Hannun, president of the ABCC, said: “The increasing Brazilian export volume to the Arab world is a result of the strengthened trade relations between the region and the South American country. It also reflects Brazil’s global economic resilience in the midst of challenges. We foresee stronger demand for Brazilian commodities in the Arab world in the coming quarters of the year as the region continues to implement economic programmes to expand trade opportunities and experience steady socio-economic development.”
Iron, maize (corn), sugar, and chicken and bovine meat, and aircrafts were among the Arab region’s top imports from Brazil, sustaining its growing demand both from the industrial sector and the consumer market. The value of chicken meat exported to Arab countries during the period hit the $580.36m mark, while bovine meat reached $275.39m, during the Q1 of 2019.
The leading exported products were meat and edible offal, iron ores and concentrates, including roasted iron pyrites, cane or beet sugar and chemically pure sucrose, in solid form, aircrafts (helicopters and airplanes), spacecrafts ( satellites), and suborbital and spacecraft launch vehicles. corn; turbo-jets, turbo-propellers and other gas turbines, and tubes, pipes, and hollow profiles, seamless, of iron (other than cast iron) or steel.
“We will maintain our efforts to facilitate interaction between these markets and improve their trade relations by establishing effective channels of business communications. The growing popularity and demand for Brazilian products in the region is a reflection of the excellent quality of commodities from the country, whether they be foodstuff or engineering items,” Hannun added.