The trading company specializes in imports and exports of commodities, marble, granites, ore, gemstones, and others, and works with Arab countries such as Egypt, Morocco, Qatar, UAE, and Saudi Arabia.
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Last year saw clothing sales from Morocco and Tunisia to Brazil go up. This year should be a different story, with sales slowing down as a consequence of the pandemic.
Brazilian Secretariat for Ports director of New Concessions and Port Regulation Policies Fabio Lavor said that despite the pandemic, the highest industry throughput on record is expected this year. He spoke during a webinar hosted by the Arab Chamber and the Union of Arab Chambers this Wednesday (12).
A webinar this Wednesday morning (8) covered available banking instruments to ensure safe transactions for Brazilian and Arab product importers and exporters alike.
The administration convened this week to outline actions intended to keep exchange rate fluctuations in check and protect purchasing power.
In a bid to get its key source of revenue going again, Egypt will allow some hotels to operate under new hygiene standards. In the UAE, restaurants and malls have also reopened at limited capacity. Algeria will resume automobile imports.
The country has suspended customs duties on lentils, chickpeas, beans, and dry beans.
Year-to-date, imports were down 12.6% in February and 5.8% year-to-date through February.
Demand for foreign products was up 14.6% and for domestic products 8% in January from December.
The emirate’s trade balance posted a 5.4% decline. Manufactures topped the list of most imported merchandise.
Trade balance deficit stood at USD 6.9 billion in 2019, a result of exports at USD 15.5 billion and imports of USD 22.5 billion.
Sales amounted to USD 11.3 billion year-to-date through November, with agricultural and mineral commodities leading the way.
Surplus was the result of exports from Brazil of USD 4.244 billion and imports of USD 3.799 billion.
Brazil ran a USD 2.2 billion surplus last month as exports cooled off and imports climbed, prompting the government to revise its yearlong estimate.
