Arab countries imported more than USD 3.6 billion worth of goods from Brazil during the first half of 2012, while Arab exports to Brazil reached nearly USD four billion during the same period, reaffirming the importance of Brazil as a key trade partner of the Arab world. Brazilian exports to Arab countries mainly consisted of sugars, meat, ores, slag, ash and cereals, while Arab exports to Brazil included mineral fuel, oil and fertilizers.
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 USD 720 million in imports and over USD 1.4 billion in exports to Brazil during the first half of 2012. The UAE has also been a major trade partner of Brazil with more than USD 489 million in imports and over USD 65.6 million in exports. Egypt ranks second among top Arab importers of Brazilian products with more than USD 674 million in imports in the first half of 2012, while Egyptian exports to Brazil totaled over USD 40 million.
Other top Arab trade partners of Brazil include Qatar and Kuwait, which exported products to Brazil worth in excess of USD 362 million and USD 337 million, respectively. On the other hand, Qatar and Kuwait imported products from Brazil worth more than USD 80 million and USD 64 million, 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.
Before joining SME Advisor, I worked as a producer/reporter for Forbes Media in New York. I obtained a Bachelor’s degree in Journalism and International Studies at the University of South Florida in the US. I am currently in Dubai working as Sub-Editor for SME Advisor Middle East, which is a business magazine published by CPI. You can follow me on Twitter: @joumanasaad or @SMEadvisorME and (Joumana Saad) or (SME Advisor) on LinkedIn.