Trade with Brazil nears $2 billion
Lamps are produced at Dien Quang Lamp Company in HCM City. Brazil is among the top importers of the company’s products. Trade between Viet Nam and Brazil could hit US$2 billion this year. — VNA/VNS Photo Van Khanh
HA NOI (VNS)— Trade between Viet Nam and Brazil could hit US$2 billion this year, the Viet Nam Trade Office in Sao Paulo has forecast.
The office said the bilateral trade has seen rapid growth in recent years despite the impact of the global economic recession.
During 2000-12, two-way trade saw a 65.2 fold rise from $26.2 million.
Last year, it reached $1.737 billion, an increase of 13.1 per cent over 2011. Export turnover was reported at $718.1 million, up 20.1 per cent, while import turnover was up 8.6 per cent.
Export turnover in the first two months of this year is estimated at $152 million, a rise of 68.8 per cent in comparison with the same period last year.
Imports from Brazil in the first two months this year decreased by 46.7 per cent to $92 million.
Viet Nam-Brazil trade is expected to reach $2.5 billion by 2015 and $5-6 billion by 2020. — VNS