Arab countries double their exports to Brazil

From January to November 2021, Brazil purchased 100.6% more Arab products compared to the same period in 2020. The increase in Arab exports to Brazil takes place in a scenario in which the Brazilian trade balance is operating in a surplus of US$ 3.8 billion. The data were compiled by the Market Intelligence Department of the Arab Brazilian Chamber of Commerce.

Among the countries that increased sales to Brazil in the year to date, the highlights were the United Arab Emirates and Saudi Arabia. The former exported 253.6% more products to Brazilians, mostly items such as mineral fuels, aluminum, sulfur, and fertilizers.

The Saudis, on the other hand, sold 86.9% to Brazil compared to the same period in 2020. The most exported products were mineral fuels, fertilizers, plastics, and aluminum.

Notwithstanding, Brazilian exports to the Arab bloc grew by 25.3%, as did bilateral trade, by 48.3%. Although the balance remains in surplus for Brazil, there was a drop of 33.8% compared to the same period in 2020.

The Arabs remain in the third position among the main export destinations for Brazil, only behind China and the United States. Among suppliers to the Arab block, Brazil occupies fifth place in the ranking.

According to the analysis done by the Arab Brazilian Chamber, both Brazil and the Arabs are trying to get around sensitive fiscal situations. One of the options presented to overcome such a challenge is to undertake reforms that increase the economy’s attractiveness to foreign investments, in addition to boosting the generation of business and job opportunities.

Source: ANBA – Agência de Notícias Brasil-Árabe

To read the full original article visit the link: https://anba.com.br/no-acumulado-do-ano-arabes-dobram-exportacoes-ao-brasil/

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