Egyptian exports to Brazil amounted to $54.36m by the end of the first half (H1) of 2015, according to Michel Halabi, Secretary General and CEO of the Arab-Brazilian Chamber of Commerce.
This compares to the volume of Egyptian exports to Brazil, which amounted to approximately $145.9m by the end of 2014, while the products imported from Brazil to Egypt in the same year amounted to $2.315bn. This indicates that the trade balance between Egypt and Brazil is in Brazil’s favour.
The list of products imported from Brazil to Egypt includes meats, sugar, raw metals, and grains. On the other hand, the products exported from Egypt to Brazil include fertilisers, plastic, cotton, and rubber.
Halabi said that according to statistical reports from the Brazilian Ministry of Development, Industry and Foreign Trade, the total volume of Arab exports to Brazil amounted to around $3.377bn in H1 of 2015.
He added that this increase in the volume of exports from Arab countries to Brazil assures the demand increase on Arab products in the Brazilian market, and the development of Brazilian commercial relations with Arab countries.
According to Halabi, Arab countries are major trading partners for Brazil, and a reliable source for meeting the increasing Brazilian demand on oil products, aluminium, pesticides, and other products.
Halabi expected that Brazilian demands on Arab exports will increase in the near future, under the significant economic prosperity that Brazil currently lives.
He added that Chamber will continue its efforts to support the commercial relations between Arab countries and Brazil, by creating more opportunities for businessmen and traders on both sides to communicate and build fruitful partnerships.
According to the report by the Arab Brazilian Chamber of Commerce, minerals, fuel, and oil and its derivatives were the primary Arab products exported to Brazil in H1 of 2015, worth $2.530bn, followed by pesticides, valued at $445m.
Aluminium registered the highest growth rate in the Arab countries’ exports to Brazil, with 184%, to amount to $50.38m. The exports volume of salt, sulphur, soil and stones increased by 37%, to reach $60m.
The list of Arab exports to Brazil also included inorganic chemical substances, rare earth metals, electrical machinery, fish, and seafood products.