Vietnam records trade surplus with Canada

(VOVWORLD) - Trade between Vietnam and Canada in 2018 is estimated at 4.6 billion USD, up 4% from the previous year. 

According to preliminary data of Statistics Canada, Vietnam’s exports  were valued at 3.2 billion USD. Vietnam’s major foreign currency earners like textile-garment, footwear and wood products posted good growth. Several new products recorded surges in overseas shipments, including plastic and rubber products, coconut oil, and paper products. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is expected to promote bilateral trade. With Canada’s fast tariff reduction roadmap from 18% to 0% in three years, some Vietnamese items are forecast to witness strong export growth as from 2019 like textile-garment, footwear, and handbags.