The Arab-Brazilian Chamber of Commerce (ABCC) has announced that the Brazilian exports to the Arab region for the first 10 months of 2023, surged by 9.35% to $15.76 billion over last year's figure of $14.42 billion, while its imports from the Arab region for the same period reached $8.937 billion, reported Wam.

The volume of Brazilian exports to the Kingdom of Saudi Arabia (KSA) amounted to $2.654 billion, while those to the UAE totalled $2.543 billion.

Exports to Egypt increased to $1.889 billion, marking a significant rise from the same period last year. Similarly, exports to Qatar stood at $266 million while those to Kuwait reached $220 million.

Furthermore, Saudi Arabia leads the Brazilian imports from the Arab countries, totalled $2.937 billion while the UAE follows closely behind with $998 million.

Qatar’s exports to Brazil stood at $605 million, while the imports from Egypt reached $439 million. Imports from Kuwait also witnessed a significant surge, amounting to $323 million.

Osmar Chohfi, President of ABCC, said: “Compared to the first 10 months of 2022, the Brazilian exports and imports have surged significantly during the same period this year, which demonstrates the strong and expanding trade relations between Brazil and the Arab world.

“At ABCC, we relentlessly strive to amplify Brazilian exports to the Arab region by implementing several strategic initiatives and making dedicated efforts. These positive trade figures demonstrate our dedication to developing solid bilateral relations with Arab nations.”

The ABCC report further stated that the export of beef and chicken meat from Brazil to Arab countries demonstrated robust performance from January to October 2023. The beef exports from Brazil to the Arab world stood at $866.68 million with UAE leading the list at $243.69 million. In addition, Egypt, Saudi Arabia, Libya and Lebanon showcased a stronger demand for Brazilian beef, contributing $216.25 million, $174.74 million, $59.52 million and $46.41 million, respectively.

Furthermore, exports of poultry also witnessed a major increase, totalling an impressive $2.755 billion. With $742.93 million, the UAE emerged as the top importer, followed by the KSA, which amounted to $699.78 million. Kuwait Qatar, and Egypt also recorded a significant increase in the exports of poultry from Brazil, which was valued at $180.49 million, $133.84 million, and $112.48 million, respectively.

The notable increase in the exports and imports between Brazil and the Arab world indicates the growing economic alliance and emphasises the remarkable resilience and adaptability of both sides in the face of numerous global challenges.