Exports to Canada soar during two-month period
VOV.VN - Vietnamese exports to Canada during the initial two months of the year surged by 31.4% to reach US$871.8 million on-year, according to details given by the Ministry of Industry and Trade.
Textile and garment products took the lead in terms of export turnover to the fastidious market with US$171.7 million, representing a year-on-year rise of 74.1% and accounting for 19.7% of the total export value.
Furthermore, phones of all kinds and components ranked second in export turnover with US$120.5 million, a drop of 5.4% on-year and accounting for 13.8% of the country’s total value to the market.
Strong growth was recorded in several groups of items, including metal products, rattan, bamboo, sedge and carpet products, video cameras and accessories, along with plastic materials.
According to experts, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has created a wealth of opportunities in which the export of local goods to the Canadian market can increase.
Statistics compiled by the Vietnamese Trade Office in Canada indicate that the country's exports to Canada last year reached approximately US$5.3 billion.
This was the third consecutive year that Vietnam had recorded positive growth to the demanding market since 2019, the year in which both sides officially became members of the CPTPP.
Under the commitments set out by the trade pact, Canada pledged to eliminate import tax of 95% of tariff lines for Vietnamese exports to the market, while tariffs on 100% of seafood and wooden export products have also been removed from the beginning of 2019.
