Vietnam-Brazil trade volume expected to reach US$4 billion

09:42 | 28/10/2015 Trade

The two-way trade turnover between Vietnam and Brazil in the past nine months reached US$2.723 billion, a 20.8% year-on-year rise, bringing a prospect of US$4 billion in 2015, said the General Department of Vietnam Customs.

Vietnam-Brazil trade volume expected to reach US$4 billion

Exports to Brazil brings US$1.144 billion, a 9.7% year-on-year increase

Exports to Brazil brought US$1.144 billion, a 9.7% year-on-year increase, while imports from the South American country cost US$1.579 billion, a 30.3% rise over the same period last year.

Most imports from Brazil saw growth in the past nine months: telephones and component made US$433.3 million, a 25% year-on-year rise; computers and component reached US$79.2 million, increasing 19% over the same period last year; and machines, equipment and spare parts made US$61.3 million, a 6% year-on-year rise.

Meanwhile, garments and textiles made US$55.3 million, an 11% year-on-year rise; transport vehicles and components reached US$42.8 million, a 10.3% increase; textile fibers hit US$31.3 million, a 34% fall; footwear, US$169.3 million, a 16.4% decrease; and seafood, US$54.4 million, 42.9% down.

Vietnam mainly imported from Brazil corn seed (US$610.5 million, a 52.6% year-on-year rise); cattle feed and materials (US$231.3 million, a 26.5% year-on-year increase); materials for textiles, garments and footwear (US$143.9 million, a 23.7% rise); wheat (US$75.1 million); cotton (US$86.9 million, rising by 138%) and soybean (US$220.8 million, an 18.6% increase).

To respond to changes promptly and fulfill the set export target, the Vietnam Trade Office in Brazil has prioritised resources to promote trade in key economic regions with large populations where production, distribution, import and export facilities are located and local residents have stable high incomes.

The agency has also hosted many trade promotion activities, workshops and business forums in different Brazilian localities to connect hundreds of businesses from both sides./.

Source: NDO