Brazil’s exports to Egypt recorded $791.53m during the first six months of the year, in which Egypt bought 2,765.66 thousand tonnes of Brazilian commodities, according to latest figures released by the Arab-Brazilian Chamber of Commerce (ABCC).
The ABCC revealed that Egypt exported 5 42.68 thousand tonnes of goods worth $135.98m to Brazil.
Furthermore, the ABCC stated that Brazil’s total exports to Arab countries jumped 15.1% during the first six months of the year to hit the $6bn mark.
On the other hand, it showed that the Brazilian imports from the Arab states were also strong during the same period, growing at 11.5% to reach $3,521.08m.
The ABCC mentioned that soybeans, iron, oil, sugar, and vehicles continued to be among the Arab region’s top imports from Brazil, sustaining the growing demand from both the regional industrial sector and the consumer market.
Moreover, the ABCC revealed that the Brazilian trade balance with Arab countries reached $2,390m during the first half (H1) of 2019. Commenting on this, Rubens Hannun, president of ABCC, said that the surge in Brazil’s exports and imports during H1 of 2019 proved anew the growing trade relations between the country and its trade partners in the Arab world.
“We are confident that their ties will only grow stronger in the coming months as we expect to see the Arab markets’ demand for Brazilian commodities to continue to rise towards H2 of the year,” he added.
“The region remains confident in Brazil’s socio-economic potentials, citing its promising economic programmes that will drive more trade opportunities in the coming years. At ABCC, we will reinforce our efforts to further facilitate trade activities and open up effective communication channels between concerned parties,” Hannun concluded.