Middle East accounts for 10% of agribusiness exports
In the first quarter of the year, sales to the region increased by 12% to USD 2.029 billion over the comparable period in 2016.
São Paulo – The Middle East accounted for 9.9% of Brazilian agribusiness exports in Q1, the Ministry of Agriculture, Livestock and Supply reported this Wednesday (12). Sales to the region reached USD 2.029 billion, up 12% from Q1 2016.
The region is the third leading buyer of Brazilian agribusiness products, trailing Asia and the European Union.
Total agribusiness exports were up 2.4% to USD 20.52 billion. The Middle East’s share of total exports climbed from 9% to 9.9% year-on-year in Q1.
According to the Ministry, Saudi Arabia was the fourth leading single buyer of Brazilian agribusiness products, after China, United States and the Netherlands. Saudi imports from Brazil were up 24.3% to USD 639.7 million.
Another Arab country in the top 20 buyers list is Algeria, at USD 316.9 million, up 35% from Q1 2016.
In March alone, sales to the Middle East reached USD 693.9 million, down 4.2% from March 2016. The region’s share in total sales dropped from 8.7% in March 2016 to 7.9% last month.
Saudi Arabia was the sixth biggest buyer of Brazilian agribusiness in March at USD 213.2 million, up 14.8% year-on-year. The top 5 buyers were China, United States, Netherlands, Russia and Germany.
Algeria was the 18th leading buyer at USD 93.9 million, up 20.5%. Egypt ranked 20th, although its imports dropped by 25.7% to USD 93.6 million.
Total agribusiness imports to Brazil climbed from USD 3.03 billion to USD 3.76 billion year-on-year in Q1, a 23.9% increase. In March, Brazil purchased USD 1.39 billion worth of agribusiness products, up 19.1% year-on-year.
*Translated by Gabriel Pomerancblum