April 14, 2024

Brazil’s trade outflow with Arab Nations touched around USD2.56 Billion within the preceding two months

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The Arab nations are having good balance between Brazil’s trade equilibrium having recorded an upsurge with 12.5 percent during the preceding two months, in January as well as February 2021 comparatively to its routine from the same months a year ago, posting a total worth of USD2.56 Billion.

As per the recent figures that were unrestricted by Arab-Brazilian Chamber of Commerce (ABCC), that offered up the surplus outcome maintained a optimistic performance.

During the initial two months this year, the Brazilian exports for Arab nation touched USD 1.78 Billion, as well as it got upsurged by 12.69 percent from the year 2020.

The Arab territory stays as the third major terminus of goods and merchandize for the South American nation, subsequent to China and the United States. During the time frame, Brazilian exports to Saudi Arabia are worth at USD 296.87 million; Egypt, USD 288.69 million; and the UAE at USD 204.81 million.

The topmost exported merchandize in the Arab nations include iron ores and concentrates, counting roasted iron pyrites; fresh, chilled, or frozen poultry; cane or beet sugar and chemically pure sucrose; corn; and beef merchandize.

The overall worth of imported merchandize from Arab nations to Brazil has touched USD 777.69 million during the same period while foremost goods imported from the territory include fertilizers, mineral fuels, mineral oils, plastics, and aluminium. The Arab nations were the 6th main provider for Brazilian imports.

The President for Arab Brazilian Chamber of Commerce, Rubens Hannun stated out that: “Brazil’s trade performance in the first two months this year showed the strength of trade relations between Brazil and the Arab region. It further reflects an upward trend amid intensified efforts toward economic recovery from the impact of the COVID-19 pandemic, as vaccination and strong precautionary measures continue to advance in these markets.” Hannun further ended the statement by stating that:

“The ongoing revitalization provides a new drive for Brazil and the Arab nations to continue the diversification of trade products to benefit the supply chain inputs and intermediate goods as well as the higher value-added finished products. We are confident that the trade exchange between these markets will continue to deliver greater results with the support of ABCC in engaging Brazil and Arab countries to explore other areas that will further expand the existing trade alliance.”

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