brazil\s export to arab countries drops 4
Last Updated : GMT 21:46:02
Arab Today, arab today
Arab Today, arab today

Brazil\'s export to Arab countries drops 4%

Arab Today, arab today

Arab Today, arab today Brazil\'s export to Arab countries drops 4%

Sao paulo - QNA

Export from Brazil to the Arab market dropped 4% in the accumulated result for this year up to August, according to information disclosed by the Brazilian Ministry of Development, Industry and Foreign Trade. The country had revenues of US$ 9.3 billion with exports to the region in the first eight months of this year, as against US$ 9.6 billion in the same period last year. "There was reduction in the volume of sugar sales," says the Market and Business Manager at the Arab Brazilian Chamber of Commerce, Rodrigo Solano. He recalled that sales of ore also dropped in terms of revenues. "But, although there was reduction in values shipped, there was growth in volume," he added. "Brazil- Arab News Agency" reported that Ores and sugar are among the main products shipped by Brazil to the Arabs, alongside chicken and beef. The percentage of reduction in sales to the region accompanied the drop in Brazilian exports to all destinations, which was 3.7% in the accumulated result up to August, with US$ 160.6 billion. There was also a reduction in sales to the region in August this year as against the same month in 2011, 22%. Revenues with exports totaled US$ 1.4 billion in the eighth month of 2012, and US$ 1.8 billion in the same period in 2011. Products like sugar, beef and ores, as well as maize, soy oil and aircraft, topped the list. In the accumulated result for the year, the main destination for Brazilian products in the Arab world was Saudi Arabia, with purchases of US$ 1.9 billion. There was also reduction in purchases, as in the same period of last year, the Saudis spent US$ 2.3 billion in products from Brazil. The second main destination was Egypt, which increased imports to US$ 1.6 billion, as against US$ 1.4 billion, and the third was the United Arab Emirates, with US$ 1.5 billion, also growing. In August alone, Egypt was the Arab country that bought most from Brazil, with US$ 377.5 million and greater imports, and Saudi Arabia came in second, with US$ 268 million and a drop. The third was the United Arab Emirates, with US$ 219 million and a drop. Algeria and Oman were in fifth place, respectively. On the other direction, Brazilian imports from the Arab world grew 20%, to US$ 7.7 billion in the accumulated result up to August. The main products shipped by the Arabs to the Brazilian market were oil, naphtha, aviation fuel, natural gas and fertilizers. In August, however, imports dropped 62%, to US$ 338.2 million.

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