Specifically, out of the total import-export turnover of 5.08 billion USD, Vietnam exports to Brazil reached 1.85 billion USD, an increase of 11%, Vietnam imports from this market reached 3.24 billion USD, a decrease of 4%. .3% over the same period in 2022.

Some of Vietnam's main export products with high growth rates are textiles and garments (11%), machinery and equipment (6.6%), bags and suitcases (19.8%), vehicles transportation and spare parts (52%), iron and steel of all kinds increased (445%), other base metals and products (33%).

However, the Vietnam Trade Office in Brazil also commented that in the coming time, bilateral trade between Vietnam and Brazil will face challenges mainly due to objective reasons.

Currently, increased transportation and logistics costs, along with increased raw material prices since the pandemic, have impacted export activities. Besides, the market still has many uncertainties caused by the Covid-19 pandemic and especially the Ukraine and Russia conflict, which has negatively impacted exports and consumption of goods.

Some Vietnamese products exported to Brazil have tended to decrease such as rubber (-47%), textile and garment raw materials, leather and footwear (-51%), phones and components (-10%), fibers, yarns, textiles of all kinds (-24%). Seafood products are slowing down.
Also according to the Vietnam Trade Office in Brazil, in terms of imports, Vietnam's main imported products from Brazil are mainly raw materials and accessories for domestic production to meet domestic demand and serve domestic production. exports for export decreased significantly.

Some products tend to decrease such as wood and wood products (-57%), other food products (-45%), animal feed and raw materials (-17%), tobacco ingredients ( -14%), textile materials, footwear (-15%)...

Minh Toan