São Paulo – Year to date through November, Brazil’s purchases from the Arabs were up 100.6% from a year ago. The increase comes in a balance that remains positive for the Brazilians, at USD 3.8 billion, according to data compiled by the Market Intelligence department of the Arab Brazilian Chamber of Commerce (ABCC). Pictured, an aluminum factory in Saudi Arabia.
The countries that most stepped up sales to Brazil year to date are the United Arab Emirates and Saudi Arabia. The fist exported 253.6% more products to Brazilians, particularly items like mineral fuels, aluminum, sulfur, and fertilizers.
The Saudis sold 86.9% to Brazil year on year. Product highlights were mineral fuels, fertilizers, plastics, and aluminum.
Brazilian exports to the Arab bloc also grew by 23.3%, and overall trade stepped up by 48.3%. Despite the surplus for Brazil, it was down by 33.8% from a year ago.
The Arabs remained as the third largest destination of exports from Brazil, behind China and the United States. Brazil ranks as the fifth biggest supplier to the bloc.
According to the ABCC’s Market Intelligence team, both Brazil and the Arab countries are now dealing with more sensitive tax situations. A way to overcome this challenge would be undertaking reforms that increase the economic attractiveness for investments, as well as boosting opportunity and job creation.
Translated by Guilherme Miranda
