Brazil’s trade inflow to Middle East tops $6.56bn in H1 2013 | Brazil’s trade inflow to Middle East tops $6.56bn in H1 2013 -

Brazil’s trade inflow to Middle East tops $6.56bn in H1 2013

United Arab Emirates: Thursday, August 29 - 2013 @ 14:15

The Kingdom of Saudi Arabia, the United Arab Emirates, Egypt, Oman and Algeria were the leading destinations, with meat (beef and chicken), sugars, iron ores, slag and ash, cereals and miscellaneous grains, seeds and fruits emerging as the top traded commodities.

There was a huge surge of 117.68% in the volume of iron and steel products (mainly tubes), inorganic chemicals and rare earth materials from $19.71m in 2012 to $42.9m this year for the covered period.

As for imports, Brazil brought in $5.69m worth of Arab commodities for the first half, with the KSA, Algeria, Morocco, Kuwait and Qatar as the main contributors. The country’s top purchases from its Arab trade partners for the period included mineral, fuel oil and allied products; fertilizers; plastics; salt, sulfur, earth and stone; and fish and seafood. There was a huge increase in fish and seafood (222.24%), machinery (194.93%) and cotton, yarn and fabric (129.12%) over last year.

Dr. 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. For its part, the Arab Brazilian Chamber of Commerce will continue to closely monitor market trends so that we can help spur more opportunities as the world continues to address economic and commercial challenges in some quarters.”

The Arab-Brazilian Chamber of Commerce has been established to consolidate and expand partnerships, generate opportunities and bring Arabs and Brazilians together. It has been in operation for more than 60 years, playing an active role in boosting economic, cultural and tourism activities, and facilitating the flow of information between Arabs and Brazilians.

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Thursday, August 29- 2013 @ 14:15 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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