According to the Brazilian Association of the Food Industry, the trade with the Arab country yielded a USD 1.19 billion revenue.
Browsing: Economy
Trading volume grew in four areas of the segment, including supermarkets.
More than 54,000 transactions were registered in the sector last year. Value was significant for the emirate.
In the first two weeks of February, with six working days, Brazil registered USD 4.8 billion in exports and USD 3.8 billion in imports.
IPCA, Brazilian official inflation index, was above the 0.15% registered in December, driven by food and beverages.
The Arab country is the 8th out of the 20 main destinations of Brazilian shoes. In January, exports to the UAE surpassed USD 2.8 million. The main product shipped to that country is the flip-flop sandal.
Ricardo Amorim, host of Manhattan Connection, gave a lecture to Arab Brazilian Chamber associates this Thursday. He has good expectations regarding foreign investments and Brazilian economic growth.
Dollar inflow in Brazil surpassed the outflow in USD 55 million last year.
Last month, 197,000 units were manufactured. Domestic sales grew by 10%, but exports dropped by 46%.
Growth was below the expected by the Brazilian Supermarket Association (ABRAS). For 2019, the expectation is a 3% increase.
State’s government announced a reduction from 25% to 12% in the ICMS aliquot charged on the fuel.
Deals among companies in the Middle East and North Africa surged by 68.7% in last year over 2017, driven by transactions in the UAE.
The country produced an average of 2.586 million barrels per day last year. Natural gas production, however, grew by 1%.
Financial institutions estimate 6.5% SELIC by end of 2019, the same as it is now.
