Arab exports to Brazil touch $3.37b in H1 2015

Dubai: Arab exports to Brazil reached $3.37 billion (Dh12.37 billion) in the first half of this year, according to a statement on Wednesday from the Arab-Brazilian Chamber of Commerce.

Qatari exports grew 87.96 per cent to $424.5 million in the first half of this year, while exports from Saudi Arabia touched $776 million, Kuwait $243 million and UAE $239 million. Meanwhile, Egypt, Oman and Bahrain exports amounted to $54.36 million, $41.45 million, and $33.36 million, respectively.

“The flourishing exports from the Arab nations to Brazil … demonstrate increasing popularity of the regional products among Brazilian population. Arab region is a vital trading partner for Brazil, contributing significantly to address the growing national demand for commodities such as mineral fuel and oil, aluminium, and fertilisers, among others,” said Michel Alaby, Secretary General and CEO of the Arab-Brazilian Chamber of Commerce, in the statement.

Minerals, fuel and oil were the most exported commodities from the Arab region to Brazil during the first half of this year at $2.530 billion, followed by fertilisers at $445 million. Aluminium posted the highest growth at 184 per cent to reach $50.38 million.