AsemconnectVietnam - According to the statistics figures of the General Department of Customs, the export turnover of Vietnamese goods to Canada in May of 2023 reached 545.4 million USD, up by 6.2% over the previous month.

Generally, the first 5 months of 2023, the figure reached 2.32 billion USD, down by 14.8% over the same period last year.
In the first 5 months of 2023, textiles and garments led the export turnover, reaching 459.3 million USD, down by 10.7%, accounting for 20.5% of the proportion. The next was the group of phones and components with 380.7 million USD, up by3.3%, accounting for 17% proportion.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a new generation free trade agreement (FTA) with 11 member countries, including Vietnam and Canada.
Since then, bilateral trade activities between Vietnam and Canada have developed a lot. The bilateral trade in goods between the two countries reached a record level of nearly 9 billion USD in 2020.
The fact that countries, including large markets such as Canada, reduced import taxes to 0% for Vietnamese goods will create positive effects in promoting export turnover.
Accordingly, when exporting goods to the markets of member countries of the CPTPP Agreement, Vietnamese enterprises enjoy very preferential tariff reduction commitments.
CK
Source: VITIC