Despite a last shock surprise defeat against Cameroon, Brazil is in the Round of 16 and still standing as one of the favorites to reach the final round of Qatar 2022 World Soccer Cup. And despite its sporting performance, Brazil has had a huge leap in bilateral trade with the buildup to the Qatar event.
According to Comex Stat data on Brazil-Qatar trade, imports of Qatari products to South America's largest economy totaled US$ 1 billion between January and October 2022, with fertilizers and liquefied natural gas (LNG) leading the way. Conversely, Brazilian exports increased by 167% over the same period last year, generating nearly US$ 340 million. Meat is Brazil’s second most exported commodity to Qatar, trailing only iron ore.
The profile of bilateral trade can be explained by Qatar's economic profile, which is one of the world’s largest oil and gas producers, according to the Organization of Petroleum Exporting Countries (OPEC).
After 60 years, Qatar withdrew from the organization to focus on liquefied natural gas production, becoming the world’s largest exporter. On the other hand, the demand for beef and chicken meat exceeds its domestic production, so a large portion of the animal protein consumed in Qatar is imported from Brazil.
The Brazilian Animal Protein Association (ABPA) said the country supplies 60% of the chicken meat imported into Qatar, and in the first ten months of this year, some 90,000 ton of chicken meat were shipped from Brazil to the world gas power, a 45% increase over the same period in 2021.
TCP, the company in charge of the Container Terminal in Paranaguá in Brazil, controls the largest Brazilian meat outlet route to Qatar. According to Comex Stat data, TCP leads in Brazil's meat exports with a 40% share and continues to grow. TCP shipped more than 38.8 thousand tons of meat to Qatar from January to October 2022, a 52% increase over the same period last year, equivalent to over US$210 million.
The World Cup has influenced the good export numbers of Brazilian chicken meat to Qatar. The host country estimates that during the world event it will receive some 1.7 million visitors. Qatar has a population of 2,9 million.