Brazilian imports from Arab World amount to USD 2.6 billion during 1st half of 2016
Posted by: Clara Fernandes at 8/10/2016 12:47:00 am
Brazil offers untapped potential for diverse business sectors in the Arab region
UAE, August 9, 2016 – The Arab-Brazilian Chamber of Commerce (ABCC) has recently noted the impressive number of Brazil imports from the Arab World, revealing USD 2.6 billion in trade during the first half of 2016 alone. Such positive statistics reflect their strong trade relations which serves as further encouragement for more bilateral exploration of potential business ties in the near future.
Out of all the Arab countries, Oman registered the most growth in Brazil in H1 2016 at 37.40 per cent while the United Arab Emirates followed at 5.04 per cent increase over the same period in 2015. Saudi Arabia led with the highest percentage and amount exported at 24.68 per cent totaling USD 658 million, Qatar second at 14.25 per cent with USD 379 million, followed by the United Arab Emirates at 9.40 per cent with 250.63 million, Kuwait at 6.72 per cent totaling USD 179.30 million; Oman at 2.14 per cent reaching USD 56.95 million, and Egypt with .71 per cent at USD 18.88 million.
The majority of the Arab World’s imports are still composed of oil and mineral fuel which makes up 67 per cent of the total amount at USD 1.8 billion. This is followed by fertilizers at 21.88 per cent with USD 583 million; organic chemicals at 1.59 per cent amounting to USD 42.14 million; plastic at 1.51 per cent reaching USD 40.14 million; and salt, sulfur, earth and stone at 1.50 per reaching USD 40.01 million. Fertilizers registered the highest growth in H1 2016 at 31.26 per cent followed by organic chemicals which recorded a 5.78 per cent increase.
“These numbers reflect the thriving economic ties between Brazil and the Arab World. We look forward to further strengthening our partnerships and examining other potential areas of collaboration that will prove to be mutually beneficial in the future. We believe there are a lot of wonderful possibilities on the horizon and we can create an environment that will foster transparency and growth for all parties,” concluded, Dr. Michel Alaby, Secretary General and CEO, Arab-Brazilian Chamber of Commerce.