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Brazil Property News: Brazil's exports to Arabs booms
10th June 2008 05:07
People considering buying property in Brazil could be interested to hear Brazilian exports to Arab countries boomed to $778.83 million last month, it has been reported.
Total exports to the Arab countries grew by nearly one-third (30 per cent) in comparison to the same time last year, according to ANBA.
Antonio Sarkis Jr, the president of the Arab Brazilian Chamber of Commerce, told the news provider the figures were beyond his "wildest expectations".
He added: "The rise in exports, despite the dollar being depreciated against the Brazilian currency, is proof of the potential that the Arab market has. Companies that believed in that potential are now achieving success."
The Brazilian Ministry of Development, Industry and Foreign Trade also showed purchases in the economy increased by 117.55 per cent year-on-year and bilateral trade shot up by more than two-thirds (67.54 per cent).
According to the ministry, the biggest importer of Brazilian produce in the Arab world was Saudi Arabia, followed by Egypt, the United Arab Emirates and Bahrian.
Meanwhile, it was reported this week by Value Online that the Latin American nation's harvest might reach 144.3 million tonnes this year, according to the Brazilian Institute of Geography and Statistics.
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