Trade between Brazil and the Gulf nations is rising, as illustrated by new reports from the Arab-Brazilian Chamber of Commerce showing Saudi Arabia and the United Arab Emirates (UAE) rank in the top 20 importers of Brazilian shoes.
That shows a significant increase of Brazilian shoe imports with the UAE purchasing more than 700,000 pairs this year compared to just more than 400,000 last year. That’s an increase of more than 65 percent.
Saudi Arabia’s market for Brazilian shoes witnessed a similar, albeit more modest, phenomenon with nearly 6 percent growth in pairs sold.
Those added sales are increasing revenue taken in from Brazilian shoes despite a drop of approximately $1 per pair in the market price in Gulf nations.
“The trade cooperation between the Arab states and Brazil is steadily growing as demonstrated by the… data,” Michel Alaby, secretary and CEO of the Arab-Brazilian Chamber of Commerce, said. “The latest figures indicate how the Arab region remains an important market for Brazil. Shoe importation is just one aspect of their relations; and at ABCC, we are looking for more ways to bring this collaboration to new heights in the coming years.”
Brazil’s shoe exports to the Gulf region will likely continue to increase as the South American powerhouse continues to expand its market capacity. Last year, Brazil exported more than $240 million worth of shoes, shipping out more than 31 million pairs.
