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Vietnam-Brazil trade value up nearly 12% in Q1

Thuy Dung Monday | 05/09/2022 13:14

Photo: VGP

Trade between Vietnam and Brazil hit $1.7 billion in the first quarter of 2022, representing a year-on-year increase of 11.9 percent, according to the General Department of Customs.

During the first three months, Vietnam's export turnover to Brazil was estimated at $533.2 million, up 3.5 percent while import value neared $1.2 billion, up 18 percent.

Vietnam's key export items to Brazil include phones and accessories ($191 million, up 39.54 percent), means of transport and spare parts ($40.58 million, up 52.93 percent), aquatic products ($32.16 million, up 73 percent), and rubber ($6.85 million, up 66.81 percent).

Despite the negative impacts of COVID-19, Vietnam is currently the biggest trading partner of Brazil in Southeast Asia while Brazil remains the Southeast Asian nation's largest trading partner in Latin America, said head of the Vietnam Trade Office in Brazil Ngo Xuan Ty.

However, the bilateral trade is still modest as Vietnam's exports to Brazil only account for 1.5 percent of the Latin American nation's annual import value, he added.

Source: VGP

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