06 Feb. 2017
The Arab-Brazilian Chamber of Commerce (ABCC) has announced record bilateral trade between Brazil & GCC States to over US$ 8.7 billion. Brazilian exports to GCC countries amounted to US$ 2,670,560,242 while Brazilian imports from GCC countries ezxceeded to USD 6,050,563,498 which reflects diversified economy move by the GCC countries.
Highest exports from Saudi Arabia were registered to Brazil amounting to USD 1,300,621,760, followed by Qatar of US$ 532,439,642, the United Arab Emirates at USD 366,276,768, Kuwait at USD 287,402,518, Oman at 95,603,370 and Bahrain at USD 88,216,184.
Saudi Arabia also topped in imports from Brazil amounting to US$ 2,487,252,738, followed by the UAE $ 2,235,094,046, Oman of $ 492,356,431, by Qatar amounting of USD 378,007,002, Bahrain USD 260,020,877 and Kuwait of US$ 197,832,404.
Dr. Michel Alaby, Secretary General and CEO, Arab-Brazilian Chamber of Commerce (ABCC), said “We are eager to share this information and statistics with the public in celebration of the strong and ongoing ties between Brazil and GCC Countries. It serves as further encouragement in our efforts to strengthen communication channels ties between the Gulf countries and Brazil. Both have always maintained a mutually beneficial relationship in the past and we are eager to see its continued growth in the years to come, as it plays a vital role in the long-term agenda of GCC countries which is aimed towards sustainability and economic diversification.”
Sugar and sugar confectionery seen having 31.92 per cent increase in 2016 compared to 2015. Brazilian exports in 2016 have amounted to USD 2,295,331,363 on Meat and edible meat offal, USD 1,078,456,586 on Sugars and sugar confectionery and USD 504,094,329 Ores, slag and ash.
For the same period, Brazilian imports registered USD 1,624,899,618 on Mineral fuels, mineral oils, bituminous substances; mineral waxes; USD 751,037,395 Fertilizers, and USD 94,862,033 Plastics and articles thereof. Growth in Fertilizers during 2016 is seen as one of the highest at 8.02.