Trade flow between Brazil and Egypt reached over USD 2.96 billion in 2011, accounting for a 38.9% increase from 2010. Brazilian exports to Egypt amounted to over USD 2.6 billion during the same period, up by 33.3% from 2010; while imports from Egypt were valued at USD 344.72 million, representing a huge 104% increase from the previous year.
According to the Arab-Brazilian Chamber of Commerce (ABCC), trade flow between the two countries continues to register positive growth as Brazilian exports have already reached USD 595.2 million from January to April 2012, increasing by 3.62% from the same period in 2011. Imports from Egypt reached USD 53.82 million from January to April 2012, up by 1.13% from the previous year.
“The growing trade activities between the two countries underline the importance of Egypt as a key trade partner of Brazil. Capitalising on the phenomenal growth we achieved in 2011, we are looking forward to maintain the high level of trade activity between the two countries throughout 2012,” said Michel Alaby, CEO, Arab-Brazilian Chamber of Commerce.
To promote and develop even more the trade relations between Brazil and Egypt, ABCC will hold an event in October with the participation of five to ten Egyptian companies of the food sector, to do business with Brazilian entrepreneurs.
Meat (USD 195 million), sugars (USD 136 million) and ores, slag and ash (USD 126.9 million) were the top exports from Brazil to Egypt from January to April 2012. Brazil also exports other products to Egypt including live animals, paper and paperboard, cereals, vehicles, machinery and plastic. Fertilizers (USD 35 million) and rubber (USD eight million) currently top the list of imports from Egypt, along with glass and glassware, salt, sulfur and earth stone, fabric, base materials, tanning, dye, paint and putty, optic and medical instruments, vegetables, and furniture and beddings.
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.