The Ministry of Commerce, Industry and Investment Promotion presented economic data for 2024, including commercial registrations and foreign direct investment, both of which rose.
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A disruption in oil exports impacted the Arab country’s growth last year, but GDP is expected to benefit from the sector’s expansion in 2025, according to the IMF. Libyans are currently producing nearly 1.4 million barrels per day.
Overall, the Arab country imported fewer Brazilian goods in February, but there was growth in the acquisition of less traditional products.
Executives from the Arab-Brazilian Chamber of Commerce met with the Oman Chamber of Commerce and Industry, discussed advancements in the partnership between the two institutions, and explored ways to increase trade between the two countries.
Exports grew 9.4% compared to the same period in 2024, marking the best result for the month, according to chicken lobby ABPA. China, the United Arab Emirates, and Saudi Arabia were the top three importers.
Projection is included in the budget approved by the Senate. Exports and imports are also expected to grow this year compared to 2024.
Arab countries are among the top buyers of Brazil’s agribusiness, according to the country’s National Confederation of Agriculture. The agribusiness GDP is expected to grow by 2% this year.
The Libyan market imported 1.6 million tonnes of iron ore from Brazil from January to October, a 60% increase compared to the same period last year. It is the largest volume in the current decade.
Vipal manufactures tire retreading materials, with various nations in the Middle East and North Africa as key markets for its sales.
At a forum in Cairo, the head of the Arab-Brazilian Chamber of Commerce Office in Egypt, Micheal Gamal Kaddes, presented the results of the free trade agreement between the Arab country and Mercosur. Egyptian sales increased in revenue, and the range of products diversified.
According to a report by IATA, demand in the region witnessed a 14.7% year-on-year increase in July fueled by maritime tensions.
On the other hand, ABPA figures show that chicken sales to UAE, Saudi Arabia, Iraq, and other Arab countries expanded.
Arab country was the third largest importer of beef from Brazil in the first half of the year, only behind China and the United States. Purchases stepped up both in volume and value.
Industry group Fiergs estimates a slump in exports spurred by the impacts of the floods based on previous predictions for the year. Agriculture lobby Farsul indicates a negative impact on food production, and meatpacker lobby ABPA logged an 11% decline in poultry exports from the Rio Grande do Sul state in May but already points to a recovery.
