Business

Vietnam – Canada trade revenue grows in Q1

Vietnam leads ASEAN members in bilateral trade revenue with Canada, with the figure hitting 928.97 million USD in the first quarter of 2016, up 11.8 percent year-on-year.
Vietnam – Canada trade revenue grows in Q1 ảnh 1Illustrative image (Source: VNA)

Ottawa (VNA) – Vietnam leads ASEAN members in bilateral trade revenue with Canada, with the figure hitting 928.97 million USD in the first quarter of 2016, up 11.8 percent year-on-year.

According to Statistics Canada, Canada exported 92.9 million USD worth of goods to Vietnam, an annual decrease of 38.7 percent during the period. The country spent 836.1 million USD on Vietnamese imports – mainly machinery, electronic devices, apparel and footwear, 23 percent higher than last year.

Vietnam secured a trade surplus of 743.2 million USD, with an annual surge of 123 percent in the overall value of machinery and electronic devices exported to Canada.

Canada bought less seafood from Vietnam, leading to a drop of 22.4 percent in revenue compared to last year.

Vietnam mostly imported fertilizer, nuts, seafood, machinery-spare parts and fur from Canada.

Vietnam ranked fifth in ASEAN in terms of imports from Canada but exports the most to the country.

In the period, the ten ASEAN state members together recorded almost 2.9 trillion USD worth of exports to Canada and more than 1 trillion USD worth of imports from the country.-VNA

VNA
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