Brazilian cosmetic, toiletry and perfumery industries grossed USD 133.5 million from exports in the first two months of the year. Hair products, soaps, and skin creams were the best-selling items.
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Sarah Hiaty created an Arab women’s clothing brand to cater to customers in Brazil and elsewhere. Style draws attention and gains followers online.
Revenue of tourism-related enterprises and services grew by 7.8 percent in the Latin American country in the past year. Sectors with the best performances included hire of means of transport.
These were some of the leading exports of the country in February, a month that posted lower imports of grain, vegetable oils and sugar compared to a year earlier. Surplus was posted at USD 281.3 million.
The commodity’s prices have declined due to a lower demand from China. Brazil’s trade balance could be impacted, and Arabs could import more.
Brazilian footwear exports plunged 31.3% in volume and 22.8% in revenue in January and February. Competition with China and the economic situation in second leading buyer Argentina drove down the results.
The government indicated that the transfer to the sovereign wealth fund aims to boost the national economy by diversifying its resources and creating more investment opportunities.
Goiás’ governor held a dinner for the delegation of diplomats at the official seat of the state government and told ANBA that the state and Arab countries could expand trade. The region is already a major buyer from Goiás.
After Egypt Central Bank hiked interest rates, IMF released additional loan to the country. Pound was trading at a record low and prices rose.
Saudi Arabia’s private firms employed 11.1 million in February, up 0.9% from the previous month, according to newly released figures.
Speaking at a Lide conference in Riyadh, an executive from the Brazilian aircraft manufacturer talked about his company’s plans for the Arab country, including the possibility of establishing a local operation and selling C-390 Millennium aircraft.
All sectors of the economy grew last year, particularly agriculture, which posted a 15.1% expansion from 2022.
During event in São Paulo, Egypt’s Minister of Finance called for efforts in social protection, while UAE’s Minister of State for Financial Affairs spoke of financial inclusion. Brazil’s Fernando Haddad wants more international cooperation so that the rich “contribute their fair share in taxes.”
The resurgence of tourism and the hosting of conferences towards the end of the year bolstered the growth. Passenger traffic is projected to reach 140 million by 2024.
