São Paulo – Brazil stepped up by 26% its exports to Arab countries year to date through October 2021 from a year ago, the Market Intelligence Department of the Arab Brazilian Chamber of Commerce (ABCC) reported. Revenue from sales reached USD 11.5 billion from USD 9.1 billion a year ago.
The Arab countries combined were Brazil’s third largest foreign market, only behind China and the United States. Prominent was the increased exports to Bahrain, whose sales skyrocket by 222.5% to USD 1.7 billion, particularly due to iron ore, and the increased exports to Oman to USD 1.3 billion, up 117%, also driven by iron ore.
As for volume of sales, the United Arab Emirates was Brazil’s top Arab destination at USD 1.75 billion, followed by Saudi Arabia at USD 1.71 billion, then Bahrain. Oman and Egypt ranked fourth and fifth, respectively, as Brazil’s largest Arab destinations at USD 1.35 billion and USD 1.32 billion.
The products sold to Arabs that generated the highest revenue from exports for Brazil were iron ore at USD 3.4 billion, followed by sugar at USD 2.08 billion, then poultry at USD 2 billion, meat at USD 698 million, and soy at USD 635 million. Sugar and beef sales decreased. All other products saw an increase in exports year to date.
Translated by Guilherme Miranda
