Brazil’s commercial balance to the Arab region rose 22.5 percent in volume, reaching $2.91 billion in the first quarter this year, according to the Arab-Brazilian Chamber of Commerce.
In a statement, the president of the Brazilian Chamber of Commerce, Osmar Chohfi stated that the gradual opening of the borders alongside continuous vaccine rollout helped growth in Brazil’s trade balance with Arab countries in the first three months of this year.
There has been a stable high regional demand for Brazilian food products, owing to the increased tourism activities, along with other factors. The growth in the export performance of Brazil reflects Arab nations’ resilience and ability to recover despite challenging global market conditions, added Osmar.
Foreign sales of iron ore and food products like poultry, cereals, sugar, and cereals have been a hit export from Brazil to the Arab region in the first quarter. Sales of maize and soy saw a record-high rise at 132.67% and 147.98% respectively.
The Arab-Brazilian Chamber of Commerce will pave the way for enabling trade activities and find new opportunities to strengthen Arab-Brazilian economic relations.