Today: 03/10/2022 17:35:44 (GMT+7)

Vietnam’s exports to Canada rise for third consecutive year, hitting 5.3 billion USD in 2021

Vietnam exported 5.3 billion USD worth of goods to Canada in 2021, up 21 percent year-on-year despite facing challenges caused by the prolonged pandemic, according to the Vietnamese Trade Office in Canada.

This marked the third consecutive year that Vietnam has recorded positive export growth to the market since 2019 after both countries officially became members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Vietnam’s exports, Canada, rise for third consecutive year, year on year increase, prolonged pandemic, positive export growth

Vietnamese products on the shelves of a Canadian supermarket.

Among the major exports were handsets and components with 820 million USD; computers and parts with 408 million USD, and machinery and components with 345 million USD.

According to the office, the trend of shifting supply chains coupled with the impressive production capacity of local enterprises helped lure the great interest of Canadian businesses in the Vietnamese support industry products.

Meanwhile, garment, textile and footwear exports regained their growth momentum, rising 16.6 percent to nearly 1.4 billion USD, while furniture exports saw a yearly increase of 6.5 percent to 234 million USD thanks to the relationship between businesses of the two countries, in which Canada firms exported wood materials to Vietnam while Vietnamese companies produced and then exported finished wooden goods to Canada.

Exports of cashew nuts hit 111 million USD, up 20 percent while that of pepper and fresh fruits and vegetable topped 14 million USD and 35 million USD, up 45 percent and 18 percent, respectively.

Despite an increase in market demand, a lack of containers in recent years resulted in a shortage of supply for local agricultural products, typically fresh fruits to Canada last year, the office said.

Though Vietnam is now Canada's largest trading partner in Southeast Asia, there remains room for Vietnamese businesses to penetrate the market in the future as Vietnam’s market share accounts for a modest 1.7 percent of Canada's import value.

According to Vietnamese Ambassador to Canada Pham Cao Phong, to adapt to the new normal situation in the post-Covid period, businesses of the two countries needed to discuss the establishment of a common governance support centre, B2B model, research and development, after-sales service, digitisation and digital security.

Another China border crossing reopened for Vietnamese exports
China’s Guangxi authority reopened its Pu Zhai border crossing which connects with Vietnam through Tan Thanh border gate in the northern province of Lang Son on January 25 after closure for over a month due to Covid-19 concerns, according to the Ministry of Industry and Trade (MoIT).
Vietnam exports over 453 million medical masks in 2021
Vietnam exported a total of 453.1 million medical face masks of all kinds in 2021, according to the General Department of Vietnam Customs (GDVC).
Much room remains for Vietnam to boost exports to Hungary
Trade between Vietnam and Hungary has grown continually over the past years, and it is believed that there remains much room for the Southeast Asian country to fuel exports to this European nation.
Bac Giang to export over 4,200 tonnes of processed farm produce to RoK
(BGO) – Vifoco Import Export Joint Stock Company in Bac Giang city (Vifoco) (Bac Giang province) has inked contract to export over 4,200 tonnes of processed farm produce of potato, carrot and pumpkin to the Republic of Korea (RoK) in 2022. So far, 300 tonnes of products have been processed and exported under the deal.
FTAs provide impetus for exports
Despite pandemic-caused difficulties, Vietnam still posted a trade surplus of 4 billion USD, an impressive achievement partly attributed to free trade agreements (FTAs), especially the new-generation ones.

Source: NDO/VNA

Vietnam’s exports, Canada, rise for third consecutive year, year on year increase, prolonged pandemic, positive export growth
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