Brazil’s trade with Arab countries has seen impressive growth in 2023, according to new data from the Arab-Brazilian Chamber of Commerce (ABCC). Total trade between Brazil and the Arab world reached $24.7 billion in the first 10 months of 2023, up 11% from the same period last year.
Exports Climb to $15.8 Billion
Brazilian exports to Arab countries climbed 9.4% to $15.8 billion during January-October 2023. The leading destinations were Saudi Arabia ($2.7 billion), the UAE ($2.5 billion), and Egypt ($1.9 billion). Significant gains were also seen in exports to Qatar, Kuwait, and other Arab partners.
“We continue to actively promote Brazilian exports across the Arab world through strategic initiatives and dedicated efforts,” said ABCC President Osmar Chohfi. “The robust trade figures demonstrate the expanding economic ties between Brazil and key markets in the region.”
Beef and Poultry Exports Surge
Brazilian exports of beef and poultry meat performed especially well, meeting rising demand in the UAE, Saudi Arabia, Egypt and beyond. Beef exports topped $866 million, while poultry exports hit $2.8 billion during the January-October period.
The UAE was the #1 importer of both beef ($244 million) and poultry ($743 million) from Brazil. Saudi Arabia, Egypt, Libya and Kuwait also bought more Brazilian meat products compared to last year.
Imports Reach $8.9 Billion
At the same time, Brazil’s imports from Arab countries grew to $8.9 billion. Saudi Arabia remained the top supplier to Brazil at $2.9 billion, followed by the UAE at $998 million. Imports from Qatar, Egypt and Kuwait increased notably as well.
Experts forecast bilateral trade will continue growing through the end of 2023, cementing economic ties between Brazil and fast-developing Arab markets. For Brazilian exporters and Arab importers alike, new opportunities abound across sectors in the years ahead.
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Last Updated on November 24, 2023 by Safiya K
