VN's exports to Brazil increase
In the first six months of 2017, the country's export revenue to Brazil was estimated at over US$1.06 billion, an increase of 46% from the same period last year.
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According to the Ministry of Industry and Trade, thanks to the recovery of foreign trade activities, after the economic recession, the two-way trade revenue between the two countries reached roughly US$1.73 billion in the first half of 2017, up 16% compared to the corresponding period in 2016.
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Of the total, Vietnam earned US$1.06 billion from exports to Brazil, up 46% over the same period in 2016, and made import revenues at US$665 million, down 13% against the same period last year.
The export of key Vietnamese products to Brazil increased sharply in the first five months of 2017, including phones and electronics equipment up 57%, seafood up 43%, rubber and rubber products up 73%, synthetic fibers up by over 300%, alongside the rise in the export revenue of textiles, steel products, plastics, and food, according to the Vietnam Trade Counsellor in Brazil.
In particular, Brazil is one of the most important markets of Vietnam in Latin America as it has a large scale and great potential for foreign trade activities.
The Vietnam Import Export Report 2016 showed that the country's key markets in Latin America all posted high trade revenues, including four markets reporting over US$1 billion in trade revenue with Vietnam in 2016, namely Brazil, Argentina, Mexico and Chile.
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(Source: VGP News)
