25/09/2017 07:24 AST

The non-oil trade exchange between the UAE and Brazil reached some $2.7 billion during 2016, said a report, noting that the bilateral trade between the two countries has maintained elevated levels during recent years.

The non-oil trade exchange between the UAE and Brazil reached some $2.7 billion during 2016.

In its report, which was issued today, on the review of the UAE’s trade policy with Brazil, the Ministry of Economy stressed that the bilateral trade between the two countries has maintained elevated levels during recent years, despite the economic slowdown of the Brazilian economy, reported Wam, the Emirates official news agency.

The ministry noted that meat and poultry products topped the list of exports and imports between both countries, as well as iron, aluminium, gold and precious metal crafts, and electric equipment.

The report further noted that the Brazilian economy suffered from a slowdown in its growth rates in 2015 and 2016, due to a severe economic recession in 2014, the worst in the country’s history. It added that Brazil’s annual Gross Domestic Product (GDP) rate decreased from 3 per cent in 2013 to 0.9 per cent in 2014, following several internal challenges that negatively affected investor confidence, while accompanied by a sharp increase in the rate of inflation, reaching 8.7 per cent in 2016, and an unemployment rate of 11.3 per cent during the same year.

The report also stated that Brazil is still open to foreign direct investments (FDI) and has succeeded in attracting FDI flows that averaged between 2 to 3.3 per cent of GDP, which covered the current account deficit from 2015 to 2016.


Trade Arabia

Ticker Price Volume
QNBK 123.29 21,021
SABIC 98.36 2,678,948
PETRORABIGH 13.62 1,724,546
DARALARKAN 6.91 23,025,622
KINGDOM 10.18 49,926
WALAA 28.48 318,680
STC 68.60 268,047
Middle Eastern inbound M&A reaches all-time high of $7.3 billion

19/10/2017

According to estimates from Thomson Reuters, Middle Eastern investment banking fees totalled an estimated $669.2 million during the first nine months of 2017, four per cent less than the value of fee

CPI Financial

KAPSARC tackles challenges of electricity transition in GCC

19/10/2017

The King Abdullah Petroleum Studies and Research Center (KAPSARC) addressed the Climate Change Polices and Challenges of the Electricity Transition in the GCC, during the meeting of Association of En

Saudi Gazette

Arab Petroleum Investments Corp hires banks for dollar sukuk

19/10/2017

Arab Petroleum Investments Corporation (APICORP) has mandated banks to arrange a series of fixed income investor meetings ahead of a potential five-year benchmark U.S. dollar-denominated sukuk sale,

Reuters

Qatar draws on sovereign wealth fund to support struggling economy

19/10/2017

Qatar has been forced to repatriate significant sums from its sovereign wealth fund to shore up its struggling economy, which continues to experience the impact of an economic and political boycott b

The National

Saudi Arabia’s PIF sets up real estate refinance company

19/10/2017

The Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, has set up a real estate refinancing company aimed at boosting home ownership in the kingdom, which suffers from a shortage of

The National