Vietnam-Brazil trade projected to hit US$4 billion this year
(VOV) - Vietnam-Brazil trade turnover jumped 20.8% to US$2.723 billion in the January-September period and is likely to reach US$4 billion this year, according to the Ministry of Industry and Trade (MoIT).
Of the figure, Vietnam’s exports to Brazil tallied in at US$1.114 billion, up 9.7% and imports at US$1.579 billion, up 30.3%.
Major exports to Brazil posting a relatively high growth included telephones and components (up 25% to US$433.3 million), computers and electronic components (up 19% to US$79.2 billion), garment (up 11% to US$55.3 million), and seafood (up 42.9% to US$54.4 million).
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Key import products included corn (up 52.6% to US$610 million), animal feed (up 26.5% to US$231.3 million), garment and textile materials (up 23.7% to US$143.9 million), wheat (US$75.1%), cotton (US$86.9 million) and soya bean (US$220.8 million).
To fulfil export targets, the Vietnam Trade Office in Brazil has intensified trade promotion programs in key economic regions and populous residential areas with high purchasing power so as to expand exports to the South American nation.
Over the past several months, the office’s trade promotion campaigns and business conferences and forums have helped connect Vietnamese businesses with their Brazilian partners.