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Brazil’s exports to the Arab world surged 14% in the first quarter of 2023 to total $4.42 billion, compared to $3.88 billion a year earlier, the Arab-Brazilian Chamber of Commerce (ABCC) reported.
Imports also rose 1.7 percent to $2.764 billion in the first quarter of this year, compared with $2.718 billion in the same period in 2022.
The volume of imports and exports of goods and services between Brazil and the Arab world increased significantly in the first quarter of 2023, demonstrating the expanding robust trade relationship between the two countries.
Export to KSA
In the first quarter of 2023, Brazilian exports to the UAE amounted to US$714.07 million, while exports to the Kingdom of Saudi Arabia (KSA) amounted to US$750.2 million. Likewise, Brazil’s exports to Egypt increased to $554.66 million in the first quarter of 2023, while figures for the same period in 2022 varied. Kuwait’s exports to Brazil also increased, reaching US$57.08 million in the first quarter of this year, while exports to Qatar reached US$52.44 million.
The ABCC further states that products such as meat, ores, slag, sugar, grains, oilseeds and oleaginous fruits, natural or cultured pearls, precious metals, jewellery, coffee, tea, yerba mate and spices are among the top Brazilian exports to the Arab world .
Osmar Chohfi, President of the ABCC, commented: “The first quarter of 2023 saw a significant increase in import and export volumes compared to the first quarter of 2022. These positive trade figures indicate that trade relations between Brazil and the Arab world are expanding. By promoting Business and exploring more avenues of economic cooperation and prospects for trade and partnership between the two parties, constantly striving to strengthen and advance bilateral trade between Brazil and the Arab region. Since the strong relationship between the two countries opens up for Arab products in the Brazilian market This number is expected to soar in the coming months. Brazil has been and will continue to be a reliable partner in the Arab world.”
imports rise
In addition, Brazil’s imports from Arab countries will also increase significantly in the first quarter of 2023. According to the ABCC report, Brazil’s main imports from Arab countries are mineral fuels, fertilizers, aluminum, plastics, inorganic chemicals, precious metals, salt, sulfur, stones, organic chemicals, fish, cast iron, iron and steel. In the first quarter of 2023, imports from Saudi Arabia were $691.84 million, while imports from the UAE were $356.99 million.
Meanwhile, imports from Qatar stood at $179.24 million in the first quarter of this year. Imports from Egypt also surged to $97.08 million in the first quarter of 2023, while imports from Kuwait rose to $88.39 million. — trade arab news agency
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