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.
Canada named among Vietnam抯 22 largest export marketsTuesday, July 26, 2016 > 12:29:15
The latest data of the General Administration of Customs shows that Vietnam had 22 markets with export revenue of US$1 billion or more in the first half of 2016.
The 22 out of Vietnam’s over 150 export markets had a total turnover of $69.42 billion, accounting for 84.5% of the country’s total export turnover during this period.
Compared to the same period last year, export turnover of these 22 markets rose by 6.6% - higher than the average rate of 5.7%.
Besides markets with growth, such as South Korea up to 40.3%, the Netherlands 28.1%, the Philippines 17.4%, China 13.9%, the US 13.8%, Thailand13.6%, Italy 12.1%, Austria 10%, and the UK 9.9% some market saw decline, like Singapore with a fall of 38.3%, Malaysia 25.4%, Australia 17%, Cambodia12%, and Indonesia 11.6%.
Most major economies in the world are the largest markets of Vietnam.
Of the 22 largest export markets, up to 12 are in Asia, followed by Europe with 7, the Americas with 2, and Australia.
Vietnam was in trade surplus position with 14 markets, including the US with $13.1 billion, the United Arab Emirates $2.58 billion, the Netherlands $2.456 billion, Hong Kong $2.22 billion, the UK $2 billion, Germany $1.63 billion, Canada $1 billion, Austria $1 billion, Italy, $913 million, France $846 million, Spain $836 million, Cambodia $644 million, and the Philippines $637 million.
However, Vietnam was in deficit with the Chinese market, with up to $14 billion, South Korea $9.64 billion, Taiwan $4.32 billion, Thailand $2 billion, Singapore $1.49 billion, and Malaysia $1.12 billion.
Notably, they are Vietnam’s major export markets; export value of Vietnam accounts for a small percentage compared to the total imports into these markets.