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.
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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.
Tariff was increased from 5% to 10% on rebar and wire rod. Move falls in line with Gulf Cooperation Council.
IBGE published Brazilian industry progress over last year. Only in December there was also an increase.
Unemployment in Brazil posted a slight decrease and stood at 12.3%, according to Brazilian Institute of Geography and Statistics.
Chevron bought the refinery for USD 526 million.
Last year, values of industrial goods increased two times more than in 2017 according to IBGE.
