Two-way trade between Vietnam and Mexico reached US$199 million in the first quarter of this year, up 1.01 percent compared to the same period last year.
Of the figure, Vietnamese exports earned US$173 million, equal to 2012’s first quarter, and its imports were valued at US$26 million, up 8.33 percent.
Vehicles and spare parts have emerged as one of Vietnam’s five key export items to this market, according to the Vietnam General Department of Customs.
Last year, bilateral trade totalled US$795 million, including US$683 million from Vietnamese exports.
Key export items were footwear, seafood, garments, electronics and coffee, which had corresponding values of US$212 million, US$110 million, US$82 million, US$60 million and US$86 million.
Vietnam mainly imported machinery (worth US$32 million), electronics (US$26 million), and cattle feed (US$4 million) from Mexico.
Bilateral trade ties are expected to grow and flourish in the near future when Mexico joins the Trans-Pacific Partnership Agreement (TPP).
Representatives of the Vietnamese Ministry of Industry and Trade and leading Vietnamese businesses made a fact-finding tour of Mexico in April 2013 to boost trade and industrial cooperation with this North American nation.