BRASILIA: Arab exports to Brazil recorded a substantial increase in 2014 to reach $11.42 billion, according to statistics released by the Arab-Brazilian Chamber of Commerce (ABCC).
The key products exported from the region to Brazil comprised plastic, aluminium, organic chemicals, mineral fuel and oil, and fertilisers, it said.
The imported products came primarily from Saudi Arabia, Algeria, Morocco, Kuwait and Iraq, with Saudi Arabia being the leading exporter with $3.29 billion, an increase of 3 per cent over the previous year.
It was followed by Kuwait with $1.2 billion in exports, up 18 per cent and Oman with $243 million, a 275 per cent growth, while UAE’s exports reached $500 million.
Dr Michel Alaby, secretary feneral and chief executive officer of ABCC, said: “Brazil and Arabian countries have had a long history of business relations which is heartening to see strengthening further with each passing year. In 2014, the exports to Brazil from the Arab World recorded a significant increase, especially from the GCC region, with fertilisers and mineral fuel and oil capturing the largest share.
“The Arab-Brazilian Chamber of Commerce reiterates its commitment to providing strategic support in further bolstering trade ties between the Arab regions and the South American country. In 2015, we look forward to facilitate meetings between Arab and Brazilian traders to further explore the latent trade potential.”
Among the traded products, organic chemicals increased 266 per cent from $11 million in 2013 to $40.09 million last year, followed by aluminium which rose 129 per cent to reach $49.64 million, said the report.
Meanwhile, the import of plastic surged by 57 per cent to $282.66 million and fertilisers by 2.29 per cent to $1.8 billion, it added.
