Morocco was the top Arab exporter in Brazil in January 2021, according to the Arab-Brazilian Chamber of Commerce, with more than $ 100 million in exported products.
Moroccan exports to the largest South American economy thus recorded an increase of 95.5% compared to the same month of 2020.
During the same period, the Kingdom exclusively exported fertilizers, which recorded an increase of 118.3%, inorganic chemicals (+ 137.9%) and fish and shellfish (+ 44.2%).
Throughout 2020, Moroccan exports to Brazil reached $ 1.2 billion, making Brazil the Kingdom’s third customer behind France and Spain.
In addition, trade between Brazil and Arab countries increased by 17.3% in January 2021 compared to the same month in the previous year. The total volume of these exchanges was $ 1.22 billion, which was $ 563.31 million in favor of the trade balance Brazil, noted the Arab-Brazilian Chamber of Commerce, specifying that it was an increase of 7.4%.
With a value of $ 891.85 million, Arab countries retain the third place in the list of main destinations for Brazil’s exports, after China and the United States.
Despite the good performance of Brazil’s foreign trade in January, Brazil’s growth in Arab exports led to a 9.2% decrease in the trade surplus compared to the same period in 2020, which declined. Amount of US $ 328.55 million, an increase of 56.4. % Compared to January of last year.
The most exported Brazilian product to Arab countries is a blend of wheat and barley, with sales reaching a new record of $ 26.78 million, pepper (6.4 million) and vegetable fats / oils. (5 million).
When it comes to Arab countries that have increased their imports of Brazilian products, Egypt tops the list. Its import volume rose 77.6% to $ 209.35 million. In January, Brazilian corn imports grew by 227.6%, with 543% of sugar (USD 34.87 million) and 652% of cardboard.
With the progress of vaccination campaigns against coronaviruses, the Arab-Brazilian Chamber of Commerce expects an increase in trade, as well as greater diversification of marketed products.