Arab countries' imports from Brazil reached $12.4 billion in the first 10 months of this year, a growth of more than 23 percent, figures disclosed by the Ministry of Development, Industry and Foreign Trade showed, with the growth rising nearly five percent with shipments generating $1.352 bilion. This represented a rebound from September's trade with the Arab world when Brazil exports dropped by 1.15 percent, the Arab Brazil News Agency reported. Michel Alaby, CEO of the Arab Brazilian Chamber, said the growth in exports so this year would have hit 25 percent but for a fall in food demand due to Ramadan. Sales in October as against September dropped in the Gulf, but grew in North Africa and the Levant region, he said. In October, Egypt was the main importer of Brazilian products with the country purchasing goods worth $340.82m, 82.3 percent more than in the same month last year. Saudi Arabia, the UAE and Algeria were among the major buyers of Brazilian products. However, while sales grew to Algeria in October, they dropped to the UAE and Saudi Arabia, data revealed. Brazilian imports of products from the Arab countries also grew in October. Brazil imported $1.324 billion, representing growth of 118 percent over the $607.14 million bought from the region in the same period in 2010. Saudi Arabia expanded sales to Brazil by 247.97 percent in October compared to the year-earlier period, reaching $650.26 million. Sugar was the product most sold by Brazil to the Arab world in October, with sales of $444.1 million, followed by sales of beef while sales of coffee, mate tea and spices doubled compared to a year ago. Fuels were the main products exported to Brazil by the Arab countries, with sales hitting $1.171 billion. Sales of fertilizers to Brazil totaled $88.2 million, a reduction of 26.4 percent as against October 2010. The trade balance in the first 10 months of the year was $3.746 billion in favor of Brazil but this figure dropped by more than 15 percent compared to January to October 2010.
