Brazil shipped 14.6 million pairs of shoes in January, grossing USD 117.8 million. Europe’s purchases drove up the result.
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The Porto Alegre-based Brazilian company won over audiences abroad with a discreet and premium style. The brand supplies women’s knitwear to 12 countries, including Saudi Arabia and the United Arab Emirates.
The Russia-Ukraine war prevented the sector from reaching the 2022 target; nonetheless, it had a marginal 0.5% growth in international sales. The local government restricted exports of some items to secure local supply.
Initiative by Arab government and private agencies provides for the use of an advanced digital platform to connect different players of the food industry, including exporters, importers, and providers of services like transport and logistics.
The IMF improved Brazilian growth forecasts in its report published on Tuesday (31). Brazil and Mexico drove up the projections for Latin America and the Caribbean.
Coffee was among the top 15 exports from Brazilian agribusiness to the Arab countries in 2022. Of the list, coffee saw the highest price increase, up 88% from 2021.
Price increases are expected to alleviate in 2023, but global growth is also projected to fall, according to the World Economic Outlook. In most economies, amid the cost-of-living crisis, the priority remains achieving sustained disinflation.
The Abu Dhabi sovereign fund will invest BRL 500 million (about USD 97.82 million) in the Brazilian company in exchange for a 31.5% stake. The FIP Agroenergia holding fund will be in charge of preparations.
The Saudi Ports Authority announced a shipping line connecting Jubail Commercial Port with six international ports.
Saudi Arabia led the growth, which was also seen in Africa. At the global level, there was a drop in the number of hotel rooms under construction, according to the report.
Sold for higher prices, agricultural commodities accounted for 71% of the trade with the Arab countries in 2022. Sugar, poultry and iron ore were the leading items sold to the bloc.
Finance minister Fernando Haddad met with Saudi investment minister Khalid Al-Falih. São Paulo state governor also met with Al-Falih, the Saudi minister of Industry, representatives of a Qatari investment fund, and the CEO of UAE’s port company DP World.
Egypt has announced the disbursement of USD 5 billion loans to industry and agriculture at an interest rate of 11%, down from 18%, with the state bearing the difference.
The Egyptian government is entering a new phase of rationalizing expenses, postponing new projects budgeted in dollars, and spending solely on essential needs.
