The Industry and Trade Ministry estimates revenue from Vietnam\'s exports to Latin America this year at US$1.8 billion, a year-on-year increase of 40.6 percent.
Bilateral trade turnover is expected to total US$3.5 billion.
The ministry attributes the increase to the continuing recovery of the world economy.
Footwear exports are forecast to reach US$325.5 million or as much as 25 percent of all export revenue earned in Latin America.
Garments and textiles are also key exports earning more than US$100 million each year.
Aquaculture produce, especially tra and basa fish, have become the favourite in countries such as Mexico, Brazil and Columbia and earned millions of dollars.
Other popular exports to Latin America are electronic goods, cement, steel, and timber-based products.
Vietnam trades with 33 nations and territories in Latin America.
In 1990, bilateral turnover between Vietnam and the region was totaled in tens of million of US dollars. It increased to US$145 million in 2000 and US$2.4 billion in 2009.
Source: VNA