(Ecofin Agency) - Trade between Brazil and African nations is progressing after a few year of slowdown. This is what revealed data from Brazil’s ministry of Industry, Trade and Services, reported by Macauhub.

This improvement reflects a new diplomatic environment, at the dawn of the economic crisis that struck one of the world’s most dynamic emerging markets. The actual context has promoted trade and business between the two parties that have strong historic bonds.

According to official figures, exports from Brazil to Africa have reached $7.94 billion at the end of October, up 26.16% compared to the same period in 2016.

Meanwhile, imports from Africa to Brazil rose by 16.01% over the first ten months of this year to $4.739 billion. Therefore trade balance was positive for Brazil, valued at $3.201 billion.

Official data also shows that Egypt is Brazil’s main product importer in Africa, ahead of Nigeria, while Brazil imports the most from Algeria, then Nigeria, on the continent.

Fiacre E. Kakpo