Vietnam-Chile bilateral trade increases by nearly 40pct in H1/2012

In H1/2012, bilateral trade between Vietnam and Chile reached nearly $321.5 million, up 38 percent year-on-year, of which Chile exported $238.8 million and imported $82.6 million, respectively up 41 percent and 29 percent.

According to Chile Trade Promotion Agency (ProChile), in H1/2012 this South America country has exported to Vietnam mostly copper, steel scraps, pine woods, tunas, crabs and imported foot wears, cement, cord fabric used to make tire from polyester fibers, clothes, catfish, modem and coffee.

Trade between Vietnam and Chile in H1/2012 sharply increased while foreign trade exchange of Chile only rose 2 percent year-on-year and export revenue decreased by 2.3 percent due to the impacts of international financial crisis.

Last year, Vietnam – Chile two-way trade was $486.84 million, up over 50 percent compared with 2010 and marking the highest level so far.

Felix de vicente, President of ProChile recently forecasted that with current bilateral Free-Trade Agreement (FTA), trade revenue between Vietnam and Chile would reach $1 billion in about the next three years.

 

Category: Economy