Middle East markets favourite destination for Brazilian exports

04/02/2016 08:27 AST

Brazilian exports to Middle East countries registered significant growth in 2015, latest data shows.
According to figures released by Arab-Brazilian Chamber of Commerce, the South American nation exported products worth $ 12.1bn to the region’s markets last year. Saudi Arabia remained the top destination as Brazilian exports to the country soared to $2.7bn, 8.19 per cent up from the $2.5bn figure of 2014.

The UAE emerged as the second biggest market among the Arab countries with the exports to emirates totalling to $2.5bn followed by Egypt at a little more than $2bn.

Shipments to Bahrain and Kuwait reached $309 million and $239.53m, respectively. “Brazil continues to share outstanding business ties with the Arab world as demonstrated by the recent export data. The growing popularity and demand for our local products in the region is a reflection of the high quality of our commodities, whether they be foodstuff or engineering items,” says Dr. Michel Alaby, Secretary General and CEO of Arab-Brazilian Chamber of Commerce.

He said in the near future, Brazil aims to further increase the volume of its exports to Arab countries to revitalise its economy. “We will continue to support its introduction of more products to the regional market.”

Brazil’s top exports to Arab countries include inorganic chemicals, rare earth materials, grains, seeds, fruits and cereals. Exports of rare earth materials rose 34.67 per cent to reach $567.38m in 2015 from $421.21m a year earlier. Cereals saw an increase of 18.90 per cent to $919.41m from $773.28m in 2014.

AME Info