Brazilian exports to the Arab World surged 14% in the first quarter of 2023, totalling $4.42 billion as compared to $3.88 billion during the same period last year, the Arab-Brazilian Chamber of Commerce (ABCC) reported. 

 

Imports also jumped 1.7% to $2.764 billion in the first quarter of this year, as opposed to $2.718 billion during the same period in 2022.

 

The volume of exports and imports of goods and services between Brazil and the Arab world grew significantly in the first quarter of 2023, demonstrating the expanding robust trade relations between the countries.

 

Exports to KSA up

Brazilian exports to the UAE amounted to $714.07 million in the first quarter of 2023, while exports to the Kingdom of Saudi Arabia (KSA) stood at $750.2 million. Similarly, Brazilian exports to Egypt increased to $554.66 million in Q1 2023, as opposed to the figures recorded during the same period in 2022. Kuwait also experienced an increase in Brazilian exports, amounting to $57.08 million in the first quarter this year, while exports to Qatar reached $52.44 million.

 

The ABCC further stated that products such as meat, ores, slag, sugars, cereals, oil seeds and oleaginous fruits, natural or cultured pearls, precious metals, jewellery, coffee, tea, mate, and spices, were the top exported products from Brazil to the Arab world.

 

Osmar Chohfi, President of ABCC commented: “Compared to Q1 2022, the export and import volumes in the first quarter of 2023 have increased significantly. These positive trade figures demonstrate the expanding trade relations between Brazil and the Arab world. We are continually working to strengthen and advance the bilateral trade between Brazil and the Arab region by promoting commerce and exploring more avenues of economic cooperation, as well as trade and partnership prospects between both sides. The figures are anticipated to soar in the upcoming months as the robust relations between the two sides are opening up new opportunities for Arab products in the Brazilian markets. Brazil has consistently been and will remain a reliable partner for the Arab world.”

 

Imports rise

Furthermore, Brazilian imports from Arab countries have also experienced substantial growth in the first quarter of 2023. According to the ABCC reports, the top imported products to Brazil from the Arab nations were mineral fuels, fertilisers, aluminum, plastics, inorganic chemicals, precious metals, salt, sulphur, stones, organic chemicals, fish, cast iron, iron, and steel. The imports from the KSA stood at $691.84 million, while the imports from the UAE amounted to $356.99 million during Q1 2023. 

 

Meanwhile, imports from Qatar stood at $179.24 million in the first quarter of this year. Imports from Egypt also witnessed a surge, amounting to $97.08 million, while imports from Kuwait increased to $88.39 million during Q1 2023.-- TradeArabia News Service