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Brazilian exports to Arab world exceed $14bn in 10M-22

Brazilian exports to Arab world exceed $14bn in 10M-22
Osmar Chohfi, President of ABCC

Mubasher: The Arab Brazilian Chamber of Commerce (ABCC) has announced an annual increase of 25.71% in Brazilian exports to the Arab countries during the first ten months (10M) of 2022 at $14.47 billion from $11.51 billion.

Brazilian exports to the UAE surged by 46.53% during the January-October 2022 period to $2.57 billion, compared to $1.76 billion during the January-October 2021 period, according to an official statement.

In the meantime, exports to Saudi Arabia grew by 39.13% in 10M-22 to $2.38 billion from $1.71 billion in 10M-21.

In like manner, Qatar registered a hike of 41.63% to $339.05 million between January and October of 2022, compared to $239.39 million in the prior-year period, whilst Kuwait saw a growth of 69.37% to $263.50 million in 2022 from $155.58 million in 2021, and Egypt witnessed a surge of 72.13% to $2.27 billion from $1.32 billion.

The trade balance between Brazil and Arab countries remains positive during the January-October 2022 period, reflecting the robust trade relations between the countries, said Osmar Chohfi, President of ABCC.

Over the coming months, an additional increase in regional demand for Brazilian products is expected thanks to many factors, including a boost in tourism, he added.