HANOI: Bilateral trade with Brazil would possibly reach US$4 billion this year, up nearly 20 per cent from the previous year, the Ministry of Industry and Trade has said.
Although Brazil entered economic contraction in the second quarter of this year, two-way trade with Viet Nam in the first nine months of this year rose by 20.8 per cent against the same period last year to reach more than $2.7 billion, statistics of Vietnamese customs data showed.
Of the figure, Viet Nam earned $1.14 billion from exporting to Brazil, representing a rise of 9.7 per cent over the same period last year.
Most export products of Viet Nam to Brazil posted good growth in the first nine months of this year such as phones and components, computers and spare parts, machinery and equipment, and garment and textile products.
However, several products registered drops in export turnover to Brazil, including footwear and fishery products which declined by 16.4 per cent to $169.3 million and by 42.9 per cent to $54.4 million, respectively. Viet Nam mainly imported corn kennel, animal feed and raw materials for garment and textile production from Brazil.
