Brazil's exports to Qatar touch QR447.14m in H1
Date
7/24/2016 4:14:10 AM
(MENAFN- The Peninsula)
Dr. Michel Alaby, Secretary General and CEO, Arab-Brazilian Chamber of Commerce.
By Mohammad Shoeb
DOHA: The value of Brazil";s exports to Qatar for the first six months of this year (H1, 2016) touched QR447.14m ($122.15m), accounting for 2.33 percent of the country";s total exports of over QR19bn to Arab world, data provided by Arab-Brazilian Chamber of Commerce (ABCC) show.
Meat, sugar, cereals, ores, slag, ash and other miscellaneous grain seeds and fruits were some of the important items of Brazilian exports to the region.
According to the Chamber";s statistics, Arab countries had imports worth $5.24bn (QR19.08bn) from Brazil in the first half. Saudi Arabia accounted for the most with 23.71 percent share at a value of $1.24bn, followed by the United Arab Emirates at 17.36 percent, Egypt at 16.65 percent, and Kuwait at 2.08 percent.
Among the exports, meat posted the most shares during the period at 34.88 percent, accounting for $1.82bn of exports to the Arab world. Sugar took second place at 26.62 percent with $1.39bn followed by cereals at 6.52 percent with $341.64m; ores, slag and ash at 4.63 percent with $242.73m, inorganic chemicals and rare earth metals at 6.61 percent with $189m, and miscellaneous grain seeds and fruits at 3.03 percent with $158.94m.
Of all goods, cereals marked the most growth over 2015, at an increase of 113.94 percent followed, by sugars which registered a growth of 10.09 percent.
'We are very optimistic about the state of trade between Brazil and the Arab world. We believe these numbers reflect the strong relations both economies have with each other and we hope it will serve as further encouragement for businesses to explore the infinite potentials that the business environment has to offer. We look forward to many more fruitful exchanges in the future that will benefit our respective economies and the community at large,” said Dr. Michel Alaby (pictured), Secretary General and CEO, Arab-Brazilian Chamber of Commerce.
The Chamber did not provide the country wise breakups of the goods exported to Brazil from the Arab world. But according to reports, the Arab region witnessed an unprecedented rise in fertiliser exports to the South American country for the first quarter of this year with a total of 1.14 million tonnes, and Qatar";s share alone accounted for over 305,000 tonnes, or more than one-fourth of the total, emerging as the second largest exporter of fertiliser to Brazil from the Arab world.
Among the Arab nations, Qatar and Saudi Arabia led the market, with share growth soaring up to 26.8 percent and 55.9 percent, respectively. Overall, Brazil posted 21.82 percent import growth from 2015.
The exports of fertilisers from the Arab region registered a double-digit growth of 69 percent compared to 675,000 tonnes imported during the same quarter (January to April) in 2015.
The Peninsula