Vietnam among top five Asian exporters to Canada

Vietnam remained the fifth biggest exporter to Canada in Asia, after China, Japan, the Republic of Korea and Taiwan (China) in 2016.

vietnam among top five asian exporters to canada hinh 0

It also led ASEAN in two-way turnover with Canada in the year, with US$4.14 billion, an increase of 1.1% year-on-year, according to Canadian statistics.

Vietnam’s exports to Canada reached US$3.7 billion (up 17.1%) while its import turnover fell to US$396.5 million (down 23.2%).

As a result, Vietnam’s trade surplus with Canada grew to US$3.3 billion in 2016, up 24.7% compared to the previous year.

Hoang Anh Dung, Vietnamese Commercial Counsellor to Canada said that Vietnam’s exports to Canada were satisfactory, considering that total export turnover of the 10 ASEAN countries to Canada only rose 2.8% and the ASEAN 6 faced negative export growth last year.

Exports from Thailand, Indonesia, Malaysia, Singapore and the Philippines to Canada decreased 2.3%, 6.6%, 5.4%, 1.1% and 8.1%, respectively.

Vietnam’s commodities shipped to Canada with the highest growth were machines, electric products and electronics (up 55.5%), along with suitcases, handbags and sports equipment (increased 23.6%).

The country’s import turnover in coal, timber and wooden products from Canada soared, meanwhile, cereals and fertiliser imports saw strong declines.

VNA

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