Two-way trade between Vietnam and Brazil in 2011 reached more than $1.4 billion, up 53.8 per cent from a year earlier, according to the Brazilian Ministry of Development, Industry and Foreign Trade (MDIC).
This is the first time the two-way trade performance has exceeded $1 billion. Last year, Brazil exported goods worth $794 million to Vietnam and imported commodities valued at $647 million from Vietnam.
Brazil’s key export items to Vietnam included soya beans, cotton, tobacco materials, corn, and iron. Meanwhile, Vietnam exported to Latin America’s largest economy footwear, frozen fish fillets, printer, rubber, fabric, cement, headphones, automobile tyres, electric engines etc.
According to statistics from MDIC, Vietnam-Brazil two-way trade has increased considerably since 2000 to over $100 million for the first time in 2005. Last year, the bilateral trade exchange reached nearly $937 million, exceeding $1 billion for the first time.