Vietnam, Brazil see booming trade
(VOV) -Two-way trade between Vietnam and Brazil jumped 18% on-year for the first six months of 2014 tallying in at US$1.275 billion, according to the Brazilian Ministry of Development, Industry and Foreign Trade.
For the first-half of the year, Vietnamese export revenues from Brazil surged 33.3% to hit a record US$732.6 million, while its imports from the country edged up slightly by 2.2% to US$542.5 million.
Vietnam’s major exports to Brazil were telephone accessories , footwear, frozen fish fillets,synthetic fibre, and integrated circuits. Brazil mainly shipped corn, soybeans, soy products, cotton and tobacco materials to the Vietnamese market.
Bilateral trade surged despite the fact that overall trade exchange between Brazil and foreign countries saw a sharp decline of 3.6% to US$223.6 billion during the period, the Brazilian Ministry reported.
Statistics from the ministry also showed that last year’s two-way trade hit US$2.33 billion in 2013, solidifying the South American country’s position as Vietnam’s largest trade partner in Latin America.