Canada-Vietnam Trade Relations Booming: Vietnam Becomes 5th Major Export Market for Canada

2023-06-12 11:18:00

Le Canada, 5^e major export market of Vietnam

Vietnam recorded the highest export growth in 1^is quarter of the year among Canada’s top ten trading partners.

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Exports of goods of all kinds from Vietnam to Canada reached nearly 2.2 billion USD.

Photo : VNA/CVN

According to data from Canada Customs released on May 23, from January to March, exports of goods of all kinds from Vietnam to Canada reached nearly 2.2 billion USD. Thus, this country became the 5^e Vietnam’s export market, behind the United States, China, the Republic of Korea and Japan.

Considerable year-on-year growth was seen in most of Vietnam’s major export products, except aquatic products with a decline of 32.8%.

Au 1^is quarter, Canadian imports clearly showed the “friendshoring” orientation, continuing to give priority to its strategic allied partners (leading Germany, Italy, United Kingdom) and reducing its purchases from China (-10.1 % compared to the same period of 2022).

Moreover, it also promotes priority policies towards the South American economic bloc.

According to the Vietnam Trade Office in Canada, in the first quarter of 2023, Canada particularly increased its imports from Ecuador, Argentina, Chile and Mexico.

VNA/CVN

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