Data compiled by the Arab-Brazil Chamber of Commerce indicates that in July, exports from Brazil to Arab countries reached their highest value since the beginning of the year. Sales revenue stood at US$1.1 billion, 30.8% more than in June 2019. The good performance is related to the process of normalizing maritime transport logistics for the region, the replenishment of inventories after Ramadan, and the gradual resumption of activities in the Arab countries. The secretary-general and CEO of the Arab Brazilian Chamber reports that normally July would be the period of low demand in the Arab market, as it is vacation time and very hot. “People would not be in the Arab countries, they would be on vacation, but as it is an atypical year, people did not go on vacation, hence domestic demand has been higher,” explains Mansour, regarding the level of consumption. In addition, the growth in exports of products such as iron ore is indicative of more heated markets in the region. Ore sales to Arab countries grew 117% in July compared to the previous month, reaching US$177.5 million. In addition to ore, other products contributed to the increase in exports in this comparison, such as sugar, with growth of 30.6% reaching US$336.6 million, chicken meat, with an increase of 13% to U$149.8 million, and beef up 2.3% to US$102.6 million. Despite the export growth in July over June, compared to the same month of 2019, there was a 6% drop in Brazilian exports to the Arab market. In all months of this year, Brazil recorded a decrease in sales to the Arab countries in year-on-year comparisons.
Source: Anba (Brazil-Arab News Agency) / Datamar News