Exports from Brazil to Arab countries reached $12.4bn from January to October, a growth of more than 23 percent, latest figures have showed.
According to figures disclosed by the Ministry of Development, Industry and Foreign Trade, growth in October was nearly five percent with shipments generating $1.352bn.
This represented a rebound from September's trade with the Arab world when exports dropped by 1.15 percent, the Arab Brazil News Agency reported.
Michel Alaby, CEO of the Arab Brazilian Chamber, said the growth in exports so this year would have hit 25 percent but for a fall in food demand due to Ramadan.
“The countries of the Gulf probably reduced their food stocks [established] for Ramadan and for the period of pilgrimage [to Mecca],” he said.
Sales in October as against September dropped in the Gulf, but grew in North Africa and the Levant region, he said.
In October, Egypt was the main importer of Brazilian products with the country purchasing goods worth $340.82m, 82.3 percent more than in the same month last year.
Saudi Arabia, the UAE and Algeria were all among the major buyers of Brazilian products but while sales grew to Algeria in October, they dropped to the UAE and Saudi Arabia.
Brazilian imports of products from the Arab countries also grew in October.
According to the ministry, Brazil imported $1.324bn, representing growth of 118 percent over the $607.14m bought from the region in the same period in 2010.
Saudi Arabia expanded sales to Brazil by 247.97 percent in October compared to the year-earlier period, reaching $650.26m.
Sugar was the product most sold by Brazil to the Arab world in October, with sales of $444.1m, followed by sales of beef while sales of coffee, mate tea and spices doubled compared to a year ago.
Fuels were the main products exported to Brazil by the Arab countries, with sales hitting $1.171bn.
Sales of fertilisers to Brazil totalled $88.2m, a reduction of 26.4 percent as against October 2010.
The trade balance in the first ten months of the year was $3.746bn in favour of Brazil but this figure dropped by more than 15 percent compared to January to October 2010.For all the latest industry news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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