VN among top five Asian exporters to Canada

Two-way turnover between Việt Nam and Canada reached US$4.14 billion last year, a 1.1 per cent increase year-on-year. — Photo VNA

The country also led the ASEAN in a two-way turnover with Canada at US$4.14 billion last year, a 1.1 per cent increase year-on-year, according to the Statistics Canada.

Việt Nam’s exports to Canada touched $3.7 billion (up 17.1 per cent), while its import turnover dropped to $396.5 million (down 23.2 per cent). As a result, Việt Nam’s trade surplus with Canada grew to $3.3 billion in 2016, up 24.7 per cent compared to the previous year.

Hoàng Anh Dũng, the Vietnamese commercial counsellor to Canada, said the country’s exports to Canada were satisfactory considering that the total export turnover of the 10 ASEAN countries to Canada only rose 2.8 per cent, and the ASEAN+6 saw negative export growth last year.

Exports from Thailand, Indonesia, Malaysia, Singapore and the Philippines decreased by 2.3 per cent, 6.6 per cent, 5.4 per cent, 1.1 per cent and 8.1 per cent, respectively.

Among Việt Nam’s commodities shipped to Canada, the highest growth was seen in machines, electric and electronic products, suitcases, handbags and sports equipment.

The country’s import turnover in coal, timber and wooden products from Canada soared, while cereal and fertiliser imports saw strong decline.