Vietnam ranks 5th among Asian countries exporting to Canada

Wednesday, 2017-02-15 04:56:31
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Machinery, electronic and electrical equipment post the highest export growth to Canada
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NDO - Vietnam continued to enjoy a trade surplus with Canada in 2016 and ranked 5th among Asian countries in terms of export revenue with Canada after China, Japan, the Republic of Korea and Taiwan (China).

According to statistics, two-way trade revenue between Vietnam and Canada reached US$4.14 billion in 2016, an increase of 1.1% over 2015.

Of the total, Vietnam posted an export revenue with Canada of US$3.744 billion, up 17.1% and an import revenue of US$396.5 million, down 23.2%, bringing about a trade surplus of US$3.347 billion in 2016, a sharp rise of 24.7% over the previous year.

According to the Vietnamese Trade Counsellor to Canada Hoang Anh Dung, the 17.1% increase of Vietnam's export revenue to Canada was a satisfactory result amid a slight rise of 2.8% in the total export revenue of 10 ASEAN countries to Canada and negative growth in export revenue of the ASEAN+6 to Canada.

Specifically, the export revenue of Thailand to Canada decreased by 2.3% and of Indonesia fell by 6.6% compared to 2015. In the meantime, Malaysia, Singapore and the Philippines reported a reduction of 5.4%, 1.1% and 8.1% respectively.

With a two-way trade revenue of US$4.14 billion, Vietnam topped the list of ASEAN countries in terms of high trade revenue with Canada and overtook the runner-up Thailand with a total trade revenue with Canada of US$3.054 billion.

Machinery, electronic and electrical equipment posted the highest export growth to Canada with an increase of 55.5% while coal imported from Canada saw a surge of 105.8%.