In addition to the increase in exports and imports, Brazil is expected to see a record-high surplus in foreign trade. According to the Brazilian Foreign Trade Association, which made the forecast, the results will primarly come from the rise in commodity prices.
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In January, Brazil’s revenue from exports to the Arabs climbed 74% from a year ago.
Fertilizers and inputs were the most imported chemicals to Brazil in October, at 21% of total imports.
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.
As per numbers made public by the Information & eGovernment Authority (iGA) of Bahrain, imports of goods from Brazil amounted to USD 73.7 million.
Despite the global crisis caused by the COVID-19 pandemic, the sector stepped up imports on April. Brazil’s demand for fertilizers is expected to grow by 1.5% to 3% in 2020.
The country purchased more product from abroad this month, in spite of the uncertainty surrounding the global economic scenario. Goods whose imports went up include wheat, fertilizers, sanitary items, ethylene polymers and electric generators.
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.
Year-to-date through November, imports grew by 5.3% from a year ago, to USD 5.058 million.
Surplus was the result of exports from Brazil of USD 4.244 billion and imports of USD 3.799 billion.
Capital goods exports from Brazil reached USD 824 million in August, down 15.7% from August 2018.
