Brazil exported goods worth over $6.56 billion to the Middle East during the first half of 2013, according to figures released by the Brazilian ministry of Development, Industry and Foreign Trade. The South American nation’s exports to Arab countries in H1 2012 stood at $3.6 billion.
Saudi Arabia, the UAE, Egypt, Oman and Algeria were the top destinations for Brazilian exports, with meat (beef and chicken), sugars, iron ores, slag and ash, cereals and miscellaneous grains, seeds and fruits emerging as the most traded commodities.
The volume of iron and steel products (mainly tubes), inorganic chemicals and rare earth materials rose 1117.68 per cent to $42.9 million, compared to $19.71 million in 2012.
Brazil’s imports from the Middle East stood at $5.69 million for the first half of the year, with Saudi, Algeria, Morocco, Kuwait and Qatar emerging as the top trading partners. Arab exports to Brazil reached nearly $4 billion during the same period last year.
Top imports included mineral, fuel oil and allied products, fertilisers, plastics, salt, sulfur, earth and stone, and fish and seafood. There was a huge increase in fish and seafood (222.24 per cent), machinery (194.93 per cent) and cotton, yarn and fabric (129.12 per cent) over last year, said the report.
Michel Alaby, secretary general and CEO of the Arab Brazilian Chamber of Commerce, said: “So far Brazil has maintained a healthy flow of exports and imports with its Arab partners. The latest trade report helps us identify and leverage promising areas and increase activities in certain segments.”
The Arab region has been developing strong bilateral relations with Brazil in recent years.
Trade flows between the two regions reached nearly $26 billion in 2012, up 3.26 per cent compared to $25.11 billion in 2011.