The sector’s exports to the two Arab destinations declined more than 20% from January to July this year over the same months in 2015, according to data from the sector’s association Abicalçados.
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Brazil’s economic contraction grew milder during quarter two this year, its monetary authority said, imputing the shift to increased consumer and business owner confidence.
An international index measured by the FAO eased in July after increasing for five back-to-back months.
Foreign sales revenues reached USD 940 million, 24.6% higher than in July 2015. Sales to Arab countries came out to USD 11.65 million, an 86% increase.
Saudi Agriculture will take place from October 2 to 5 in Riyadh and will have a Brazilian area organized by the Arab Chamber, Apex-Brasil and Brazil’s Foreign Affairs Ministry. Companies have until August 15 to register.
A doctorate degree holder and a specialist in International Relations, he will discuss the challenges and opportunities facing Brazil in the global scenario, on August 9 in São Paulo.
US dollar inflows to Brazil were higher than outflows in July, capping a two-month downward run.
In a lecture at the Arab Chamber, Banco Plural economist Paulo Val said spending cuts and a Social Security reform are crucial in order for the country to start growing again. He also covered forex trading and inflation.
International prices of primary products tumbled from June to July, according to index measured by the Brazilian Central Bank (BC).
The region, which had accounted for 17% of the Brazilian company’s exports in H1 2015, was the target of 21% of sales in H1 2016. Iraq, Iran, Palestine and the UAE all stepped up their purchases.
Volume and revenues, however, went down in July in comparison to the same period in 2015, according to data released by the sector’s association.
Brazil produced 3.21 million barrels of oil equivalent per day in June, with 2.558 million of oil barrels and 103.5 million of cubic meters of natural gas.
Sales declined in July from July 2015, but went up 5.6% relative to July 2016.
Organizations signed a cooperation agreement to promote companies from São Paulo state in the Arab world and to attract businesses from the region to the state. A joint mission for this year still is also in the plans.
