Brazilian exports to the Arab world generated US$ 5.82 billion from January to October this year, an increase of 10.7% over the same period last year. The figures were supplied by Brazil's Foreign Trade Secretariat (Secex) compiled by the Arab Brazilian Chamber of Commerce.
Imports of Arab products totaled US$ 4.87 billion, 4.6% more than in the first 10 months of 2006.
"Growth of around 10% in exports is good, but our forecast is to end the year with greater growth," stated Arab Brazilian Chamber of Commerce president Antonio Sarkis Jr. "We are working for growth of 15%," he added.
The main destinations in the period were Saudi Arabia, with purchases of US$ 1.22 billion, expansion of 3.4% in comparison with the first 10 months of 2007, Egypt, with US$ 1.08 billion, a drop of 4.3%, the United Arab Emirates, with US$ 1.03 billion, growth of 21.7%, Algeria, with US$ 391 million, up 1.9% and Morocco, with US$ 383 million, expansion of 20%.
The markets that posted the greatest growth were Jordan, with imports of US$ 228 million, an increase of 205%, Qatar, with US$ 108 million, 97.6% more, Mauritania, with US$ 90.2 million, expansion of 90%, Oman, com US$ 74 million, growth of 65%, Djibouti, with US$ 9.7 million, presenting expansion of 44.3%, and Libya, with US$ 211 million, 40% more.
The main Brazilian suppliers were Saudi Arabia, which exported the equivalent to US$ 1.47 billion, a reduction of 1.1%, Algeria, with US$ 1.46 billion, a reduction of 20%, Libya, with US$ 801.7 million, an increase of 441%, Morocco, with US$ 464.5 million, up 61.6% and the Emirates, with US$ 272 million, 8.3% more.
In the month of October, Brazilian shipment to the Arabs generated US$ 584 million, a reduction of 20% over the same month in 2006. Imports, in turn, totaled US$ 719 million, an increase of 24.6%.
To Sarkis, the reduction of exports in October is due to the sale of stocked products, mainly the foods accumulated during the month of Ramadan, which ended on October 10. Up to September, there was an expressive increase in exports of agricultural products to the Arab world.
"In November, exports should return to normal levels and we should end the year within the target," stated Sarkis. Another factor that influenced revenues was a reduction in international sugar prices, one of the main products shipped to the Arabs. Although the volume shipped has grown substantially, there was a reduction in revenues.
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