Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.
During the first two months of this year, Vietnam registered a trade surplus of US$900 million, due to a strong reduction in imports and an increase in exports, including fruit and vegetables.
The General Statistics Office (GSO) said that in the first two months, national total import value had a year-on-year reduction at 6.6 per cent to $22.8 billion while the total export value gained a year-on-year increase of 2.9 per cent to $23.7 billion.
Vietnam's imports decreased in most of the major markets against the same period last year. In particular, imports from China, the largest import market of Vietnam, dropped by 5.6 per cent in the first two months to $7 billion, leading to the trade deficit between Vietnam and China, which plunged 9.6 per cent year-on-year to $4.7 billion.
The import value to Vietnam also fell by 26.6 per cent to $1.3 billion from the European Union (EU), 9.5 per cent to $1.9 billion from Japan, 7.6 per cent to $3.2 billion from ASEAN, and 4.8 per cent to $3.9 billion from South Korea; in addition to 4.2 per cent to $1 billion from the United States.