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Vietnam leads ASEAN in Canada trade

Released at: 09:43, 03/06/2016

Vietnam leads ASEAN in Canada trade

Photo: Duc Anh

Electronic equipment and machinery record highest export growth.

by Minh Tuyet

Total bilateral trade between Vietnam and Canada in the first quarter stood at $928.97 million, up 11.8 per cent year-on-year, according to Statistics Canada.

Vietnam remains the leader in ASEAN in trade with Canada, with imports from the country of $92.9 million, down 38.7 per cent year-on-year, while exports to Canada were $836.1 per cent, a rise of 23 per cent. Vietnam therefore recorded a trade surplus of $743.2 million in the quarter.

Main exports from Vietnam were machinery, electronic equipment, wood, textiles, footwear, fax machines, and printers. The export value of machinery and electronic equipment was almost $273 million, an increase of 123 per cent year-on-year.

The export value of footwear was $103 million, up 35.5 per cent, crocheted and knitted products $81 million, down 1.2 per cent, textiles $76 million, down 7.3 per cent, wood $60 million, down 2.2 per cent down, and fax machines $49 million, down 20 per cent.

Machinery and electronic equipment saw the highest growth in the period, of 123 per cent. Seafood saw the sharpest decline, of 22.4 per cent.

Main imports from Canada to Vietnam were fertilizers, soybeans, oilseeds, seafood, machinery, equipment, and fur. Fertilizers had highest import value, of $23.5 million, while machinery recorded the highest growth, of 176.5 per cent.

Vietnam was the fifth largest importer in ASEAN and top in exports. Cambodia had the highest import growth, of 226 per cent, while Laos had the highest export growth, of 254 per cent.

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