(VOVworld) – Two-way trade between Vietnam and Brazil reached 670 million USD in the first quarter of this year, up 42% against the same period last year.

Phone and electronic components are one of Vietnam’s major export items to Brazil in Q1 of 2014. (Photo: Duc Tam/VNA)

Statistics by Brazil’s Ministry of Development, Indsutry, and Foreign Trade stated that in the reviewed period, Vietnam earned nearly 380 million USD from exports to Brazil and imports worth 295 million USD, a year-on-year increase of 48.6 and 34.2%. Vietnam’s main export items included footwear, seafood, garment and textile products, and electronic products. Vietnam imports from Brazil food, soybean, tobacco and leather materials. Last year, two–way trade reached a high record of 2.33 billion USD, up 42.3% against 2012. This is the first time the figure exceeded the threshold of 2 billion USD allowing Brazil to become Vietnam’s biggest trading partner in Latin America.