In a year marked by numerous global challenges, Vietnam’s robust trade relationship with Brazil has offered a silver lining. Data from the General Department of Vietnam Customs highlights that the Southeast Asian nation’s exports to Brazil reached an impressive $1.28 billion in the first half of 2023, marking a 15.4% increase from 2022.
Bullish Growth in Key Exports:
- Textiles and Garments: A dramatic increase, with exports up by 2023%.
- Machinery and Equipment: A notable 15% growth.
- Iron and Steel: An 84% surge suggests a burgeoning demand.
- Other Common Metals and Products: A massive spike of 927% showcases potential untapped markets.
- Book bags, Suitcases, and related items also enjoyed an 11.18% uptick, while Transport Vehicles and Spare Parts saw a growth of 6%.
However, not all products enjoyed the upward trajectory. There was a significant decline in the export of items like:
- Seafood: Down by 60%
- Phones and Components: A decrease of 55%
- Rubber: Falling by 23%
Some major exports of Vietnam to Brazil in the first 6 months of 2023
USD Unit
| STT | Vietnam’s exports to Brazil | Turnover 6M/2022 | Turnover 6M/2023 | Increase/decrease (%) |
| 1 | Phones of all kinds and components | 352,148,740 | 288,606,479 | -18.04 |
| 2 | Computers, electronic products and components | 202,901,802 | 180,989,581 | -10.80 |
| 3 | Textiles, sewing | 28,727,505 | 33,202,491 | 15.58 |
| 4 | Other machinery, equipment, tools and spare parts | 110,065,692 | 122,365,569 | 11.18 |
| 5 | Transport vehicles and spare parts | 90,603,071 | 167,330,578 | 84.69 |
| 6 | Seafood | 49,238,812 | 37,837,216 | -23.16 |
| 7 | Shoes of all kinds | 66,074,230 | 84,674,778 | 28.15 |
| 8 | Iron and steel of all kinds | 12,166,471 | 125,054,923 | 927.87 |
| 9 | Fiber, textile fibers of all kinds | 25,027,284 | 22,006,303 | -12.07 |
| 10 | Rubber | 12,702,131 | 7,067,414 | -44.36 |
| 11 | Products made of rubber | 11,670,698 | 13,165,484 | 12.81 |
| 12 | Curtain fabric, other technical fabric | 9,873,057 | 6,483,328 | -34.33 |
| 13 | Bags, wallets, suitcases, hats, umbrellas, umbrellas | 9,958,013 | 11,819,032 | 18.69 |
| 14 | Products from iron and steel | 4,382,726 | 8,458,303 | 92.99 |
| 15 | Other common metals and products | 9,058,252 | 14,548,488 | 60.61 |
| 16 | Toys, sports equipment and parts | 7,555,330 | 6,300,724 | -16.61 |
| 17 | Textile, sewing, leather, shoe materials | 4,728,465 | 2,099,661 | -55.60 |
| 18 | Rattan, bamboo, sedge and carpet products | 1,165,303 | 568,429 | -51.22 |
| 19 | Furniture products from materials other than wood | 416,874 | 83,101 | -80.07 |
| 20 | Other goods | 105,766,831 | 153,596,039 | 45.22 |
| Total | 1,114,231,287 | 1,286,257,921 | 15.4 |
Source: General Department of Vietnam Customs
This variegated trade landscape underscores the adaptability and resilience of Vietnam’s export market, especially given the myriad of challenges faced globally. Rising transportation and logistics costs, coupled with escalating raw material prices post-pandemic, have undeniably strained exports. The continued uncertainties surrounding the Covid-19 pandemic and the geopolitical tensions in Ukraine and Russia further intensify these pressures, affecting global export and consumption dynamics.
Furthermore, the aftermath of the Brazilian presidential elections in 2022, characterized by factional struggles, has injected elements of unpredictability in trade sentiments. This socio-political volatility invariably affects investment inclinations and business development in the region.
In light of these multifaceted challenges, Vietnam’s impressive export figures to Brazil are indeed commendable. Yet, they also serve as a reminder of the intricate balance that nations tread on the global economic stage, affected not just by supply and demand but by broader socio-political currents.