Egypt received 16.65% of total Brazilian exports─equivalent to a value of $872.79m─in the first half (H1) of 2016, according to the Arab Brazilian Chamber of Commerce (ABCC).
Brazilian exports to the Arab world amounted to $5,242.71bn between January and June of the current year.
Michel Alaby, secretary general and CEO of ABCC, said that he is optimistic about the state of trade between Brazil and the Arab world.
The ABCC stated that Saudi Arabia received the most exports at 23.71%, at a value of $1,242.91bn. It is followed by the United Arab Emirates at 17.36%. Qatar ranked fourth with 2.33% of total Brazilian exports, followed by Kuwait at 2.08%.
The most exported commodity was meat, making up 34.88% of total export value, and accounting for $1,828.40bn of exports to the Arab World.
Sugar was the second largest export at 26.62%, with a value of $1,395.47bn. This was followed by cereals at 6.52% of total exports, valued at $341.64m. 4.63% of exports were made up of ores, slag, and ash ($242.73m), 6.61% inorganic chemicals and rare earth metals ($189m), and 3.03% miscellaneous grain seeds and fruits ($158.94m).
According to the ABCC, cereals marked the highest increase in Brazilian exports to the Arab world over the course of 2015, with an export increase of 113.94%, followed by sugar, which registered a growth of 10.09%.
“We believe these numbers reflect the strong relations between the Arab and Brazilian economies, and we hope it will serve as further encouragement for businesses to explore the infinite potentials that the business environment has to offer,” added Alaby. “We look forward to many more fruitful exchanges in the future that will benefit our respective economies and the community at large.”