Brazilian-GCC trade registers remarkable performance

 07 Feb 2017 - 1:34

Brazilian-GCC trade registers remarkable performance

The Peninsula

The Arab-Brazilian Chamber of Commerce (ABCC) has registered impressive numbers that documents the remarkable performance of Brazilian - GCC trade for the year 2016.
Throughout the year, Brazilian imports for GCC countries amounted to $2,670,560,242 while Brazilian exports for GCC countries amounted to $6,050,563,498. The numbers are reflective of the strong trade relations between the Gulf Countries and Brazil, and reinforces the Gulf countries’ move to establish a more diversified economy.
Saudi Arabia registered the highest number of exports to Brazil at $1,300,621,760, This was followed by Qatar at $532,439,642, the United Arab Emirates at $366,276,768, Kuwait at $287,402,518, Oman at $95,603,370 and Bahrain at $88,216,184. Among all the countries, Oman registered the most growth at 32.58 per cent followed by Bahrain at 19.98 per cent.
In terms of imports from Brazil, Saudi Arabia once again leads with the highest amount, at $2,487,252,738, followed by the UAE $ 2,235,094,046, Oman at $492,356,431, Qatar at $378,007,002, Bahrain at $260,020,877 and Kuwait at $197,832,404. These numbers reflect the Gulf Countries strong trade ties with Brazil.
Dr. Michel Alaby (pictured), 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.”
The recent data also suggests thriving contracts and deals on various resources. Sugars and sugar confectionary registered one of the highest growths with a 31.92 per cent increase in 2016 compared to the numbers in 2015. Brazilian exports in 2016 have amounted to $2,295,331,363 on Meat and edible meat offal, $1,078,456,586 on Sugars and sugar confectionery and $504,094,329 Ores, slag and ash. For the same period, Brazilian imports registered $1,624,899,618 on Mineral fuels, mineral oils, bituminous substances; mineral waxes; $751,037,395 Fertilizers, and $94,862,033 Plastics and articles thereof. Fertilizers registered one of the highest growths in 2016 at 8.02.