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VietNamNews

Trade with Mexico increases by 25%

Update: July, 24/2012 - 09:09

HA NOI — High growth is expected this year in the two-way trade between Viet Nam and Mexico, the second largest economy in Latin America.

A report from the Vietnamese embassy in Mexico City said that business between the two countries had been developing strongly.

Viet Nam's export turnover to Mexico hit nearly US$467 million in the first five months of this year, an increase of 25 per cent compared with the same period last year.

Key export goods were garments, seafood, shoes, printers, coffee and rubber.

At the same time, Viet Nam imported Mexican goods worth $39.8 million, 76 per cent higher than for the same period last year.

In May, there was a record import turnover of $13.7 million, an increase of raising by 109 per cent over May, 2011. Goods included stock feed, computers, electronic products and components, spare parts, iron and steel.

The Mexican economy had GDP growth of 4.6 per cent in the first quarter and expects it to be 4.5 per cent in the second quarter, thanks to rising imports and exports.

In the first five months of this year, Mexico's exports to foreign countries were more than $2.6 billion above imports.

However, its exports to Asia are lower than imports. — VNS

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