Exports to Latin America up 5.3% in 10 months

By Tat Dat November 28, 2022 | 07:56 pm PT

Deputy Minister of Industry and Trade Do Thang Hai speaks at the Vietnam-Latin American Trade Forum 2022 on November 25 in Ho Chi Minh City. Photo courtesy of ITPC

Vietnam earned $10.2 billion from exporting garments, textiles, footwear, arm produce and other products, to Latin American countries in the first 10 months, a year-on-year increase of 5.3%.

In the same period, the country imported goods worth $8.6 billion, up 17.3% year-on-year, it was reported at the Vietnam-Latin America Trade Forum 2022 held November 25 in HCMC.

"This year, despite economic fluctuations, bilateral trade has maintained its growth momentum," said Do Thang Hai, Deputy Minister of Industry and Trade Do Thang Hai.

Vietnam-Latin America two-way trade reached $21.4 billion in 2021, with $12.5 billion from Vietnamese exports, up 46.4% over 2020; and $8.9 billion from Latin American exports, up 20.2%.

Vietnam exported mainly farm produce, garments and textiles, footwear, to Latin American countries, including Brazil, Mexico, Argentina, Chile, Panama, Colombia and Peru, and imported corn, soybean, and animal feed from them.