Vietnam’s imports from Canada surge, exports barely budge in Q1

Vietnam’s exports to Canada rose slightly while imports from the North American nation almost doubled in the first quarter of 2017, according to Vietnamese Trade Counsellor to Canada Hoang Anh Dung.
Vietnam’s imports from Canada surge, exports barely budge in Q1 ảnh 1Wheat (Photo: AFP/VNA)

Ottawa(VNA) – Vietnam’s exports to Canada rose slightly while imports from the NorthAmerican nation almost doubled in the first quarter of 2017, according toVietnamese Trade Counsellor to Canada Hoang Anh Dung.

Two-way tradebetween Vietnam and Canada hit 1.07 billion USD during the period, up 152percent from 929 million USD in the same period last year.

Vietnam’s exports toCanada rose by 8 percent to 902 million USD, compared to growth of 23 percentin the first three months of 2016. This was due to a 1.6 percent year-on-year declinein exports of machinery, electric and electronic devices, and 11.1 percent inmobiles.

Vietnam mostlyshipped mobiles, printers, electric cables, timber products, textile-garment,footwear, seafood, coffee, cashew, vehicles, toys, rubber, and vegetables andfruits to Canada.

Vietnam remainedASEAN’s top exporter to Canada and one of the region’s largest trade partnerswith the country.

It also ranked fifthin Asia in exports to Canada, after China, Japan, the Republic of Korea andTaiwan (China).

Meanwhile, Vietnamimported 166 million USD worth of commodities from Canada, a year-on-yearincrease of 77.3 percent, compared to a plunge of 38.7 percent in the sameperiod last year, due to higher domestic demand for wheat, coal, oilseedresidues, cattle feed and pharmaceuticals.-VNA
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