Brazil Never Had It So Good with Arabs: Close to US$ 2 Billion Trade in May

Brazil exporting soybean Exports from Brazil to the Arab countries totaled US$ 778.83 million in May, Brazilian imports from Arab countries stood at US$ 994.09 million and bilateral trade reached 1.773 billion, according to figures supplied by the Brazilian Ministry of Development, Industry and Foreign Trade.

All of the figures represent all-time records for the month in terms of bilateral trade.

Brazilian foreign sales grew almost 30% in comparison with May 2007, purchases increased 117.55%, and bilateral trade expanded 67.54%. "The figures are fantastic, above our wildest expectations," stated the president at the Arab Brazilian Chamber of Commerce, Antonio Sarkis Jr.

"The rise in exports, despite the dollar being depreciated against the Brazilian currency, is proof of the potential that the Arab market has. Companies that believed in that potential are now achieving success," he asserted.

The leading destinations for Brazilian goods during the month were Saudi Arabia, Egypt, the United Arab Emirates, Bahrain, Morocco, Jordan, Algeria, Kuwait, Syria and Libya. In turn, the countries that sold the most to Brazil were Saudi Arabia, Algeria, Morocco, Libya, Tunisia, Lebanon, Egypt, Qatar and Emirates.

Leading export items in May were chicken and beef, ores, sugar, aircraft, vehicles and parts, soy, machinery and parts, inorganic chemicals, preserves and canned foods, and aluminum.

On the other hand, products most imported by Brazil were oil and derivatives, fertilizers, calcium and sulphur phosphate, inorganic chemicals, clothing items, electric material, aluminum, plastic, leather, cotton and sardines.

In the accumulated result for the year, exports have reached US$ 3.167 billion, growth of nearly 20% in comparison with the first five months last year. The leading markets during the period were Saudi Arabia, the Emirates, Egypt, Algeria, Morocco, Kuwait, Bahrain, Jordan, Syria and Libya.

Imports totaled US$ 3.912 billion, growth of almost 80% in comparison with the period ranging from January to May 2007. The leading suppliers were Saudi Arabia, Algeria, Libya, Morocco, Iraq, the Emirates, Tunisia, Egypt, Qatar and Lebanon. Bilateral trade reached more than US$ 7 billion during the period, which is 46.45% more than recorded in the first five months last year.

"As the Chamber announces on a regular basis during its meetings and presentations, trade is always growing above expectations. However, despite being so significant, figures are still lower than they could be for the two markets," stated Sarkis.

Anba – www.anba.com.br

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